NEW YORK -- Crude futures closed above 145 U.S. dollars a barrel after surpassing the 147 dollars level for the first time Friday on supply concerns in Iran, Nigeria and Brazil.
Light, sweet crude for August delivery rose 3.43 dollars to settle at 145.08 dollars a barrel on the New York Mercantile Exchange. Price hit a new high of 147.27 dollars a barrel during the intraday trading, surpassing the record of 145.85 dollars a barrel which was reached on July 3.
Tensions flared up in the Middle East as Iran test-fired missiles this week, including one type capable of reaching Israel. The U.S. Secretary of State Condoleezza Rice warned on Thursday that the United States will defend its allies, and Iran responded with another missile launch.
Nigeria's main militant group said on Thursday it would resume attacks in the country's oil-rich region. Traders are concerned that the crude production will be disrupted in Africa's largest oil exporter.
A falling dollar against the euro and concerns about an oil worker strike in Brazil also helped to push the oil prices higher.
In London, Brent crude for August delivery rose 2.46 dollars to settle at 144.49 dollars on the ICE Futures Exchange.
Light, sweet crude for August delivery rose 3.43 dollars to settle at 145.08 dollars a barrel on the New York Mercantile Exchange. Price hit a new high of 147.27 dollars a barrel during the intraday trading, surpassing the record of 145.85 dollars a barrel which was reached on July 3.
Tensions flared up in the Middle East as Iran test-fired missiles this week, including one type capable of reaching Israel. The U.S. Secretary of State Condoleezza Rice warned on Thursday that the United States will defend its allies, and Iran responded with another missile launch.
Nigeria's main militant group said on Thursday it would resume attacks in the country's oil-rich region. Traders are concerned that the crude production will be disrupted in Africa's largest oil exporter.
A falling dollar against the euro and concerns about an oil worker strike in Brazil also helped to push the oil prices higher.
In London, Brent crude for August delivery rose 2.46 dollars to settle at 144.49 dollars on the ICE Futures Exchange.
