Friday, June 6, 2008

Oil jumps over $6 as dollar weakens

Fri Jun 6, 2008 11:36am EDT

By Margaret Orgill

LONDON (Reuters) - Oil soared by more than $6 a barrel to over $134 on Friday, bringing gains in the last two days to $12 as the dollar weakened further on a jump in the jobless rate in the United States.

Remarks by Israel's transport minister that an attack on Iranian nuclear sites looked "unavoidable" and a Morgan Stanley report predicting oil could reach a record high of $150 by July 4, also sent crude prices roaring upwards.

No comments: