Oil hits record on Israel-Iran tensions
Oil rose more than $3 a barrel on Monday to a new record above $143, propelled by heightened market fears of conflict between Israel and Iran over Tehran’s nuclear program.
Prices later retreated from session highs, partly reflecting a rebound in the U.S. dollar versus the euro.
U.S. light crude was up $1.76 at $141.97 a barrel by 9:57 a.m. EDT, after a record high of $143.67 a barrel.
London Brent crude was up $1.91 at $142.22.
“There are many high-level geopolitical news items, particularly in the Middle East, that are pushing prices up,” said Mark Pervan, a senior commodities analyst at the Australian & New Zealand (ANZ) Bank in Melbourne.




