Oil rises to $119 on U.S., Iran tensions

LONDON (Reuters) – Oil climbed above $119 a barrel on Friday after a workers strike cut production in Nigeria and tensions rose between the United States and Iran.

U.S. crude futures surged $3.15 to $119.21 a barrel by 1454 GMT, within striking distance of the all-time peak of $119.90 reached on Tuesday.


London Brent crude traded $2.98 higher at $117.32 a barrel, after hitting a new record of $117.51 earlier in the session.

A ship contracted by the U.S. Military Sealift Command fired at least one shot toward an Iranian boat, a U.S. defense official said. No further details were immediately available.

MSN