Saturday 17th May 2008
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Commodities: Oil futures past $90 again

Commodities: Oil futures past $90 again

11.02.2008

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Oil futures surged past the $90 a barrel mark on Friday on concerns about supply, while demand fears also waned.

The security situation in Nigeria has raised concerns that the country's oil output could fall by as much as 1m barrels of per deal.

Venezuelan President Hugo Chavez has threatened to cut exports to the US in retaliation for Exxon Mobil's court action to freeze $12bn of oil assets.

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Light, sweet crude for March delivery jumped $3.66 to finish at $91.77 a barrel.

Gold also surged ahead, helped by the strength in platinum, which was high on continuing power concerns in South Africa.

Gold for April delivery added $12.30 to $922.30 an ounce.



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FTSE 100 - 17 May 08