Cerberus
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Oil prices hit an all-time high near $120 a barrel Monday after a weekend refinery strike closed a pipeline system that delivers a third of Britain's North Sea oil to refineries in the U.K.
The shutdown comes amid supply outages in Nigeria that have helped to support oil against a strengthening dollar.
In the U.S., retail gasoline also hit a record for the 13th straight time. The average price of a gallon of regular unleaded rose to $3.603, up four-tenths of a cent from the previous day, according to auto organization AAA.
Oil strikes new trading high near $120 a barrel - Apr. 28, 2008
The shutdown comes amid supply outages in Nigeria that have helped to support oil against a strengthening dollar.
In the U.S., retail gasoline also hit a record for the 13th straight time. The average price of a gallon of regular unleaded rose to $3.603, up four-tenths of a cent from the previous day, according to auto organization AAA.
Oil strikes new trading high near $120 a barrel - Apr. 28, 2008