SAN FRANCISCO (MarketWatch) -- Crude futures climbed to uncharted territory in New York Monday as concerns about supply disruptions in Nigeria and weakness in the U.S. dollar lifted prices past $120 a barrel in electronic trading.
Crude oil for June delivery climbed as high as $120.21 a barrel in electronic trading on the New York Mercantile Exchange. The contract was last up $3.43, or 3%, at $119.75 after peaking at $120 in regular trading.
Leanan of The Oil Drum has an excellent list of the present day attitudes, effects, and future consequences.
crossposted at American Street
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