Oil prices jump on report US ship fired on Iranian vessel
Oil prices rose sharply Friday on news reports that a ship under contract to the US Navy fired warning shots at two Iranian boats.
The report on Fox News raised concerns that a conflict between U.S. and Iranian forces could cut oil supplies from the Persian Gulf region. Light, sweet crude for June delivery rose $3.08 to $119.14 a barrel on the New York Mercantile Exchange after earlier rising as high as $119.50. Prices were already up before the report on news of a pipeline attack in Nigeria and a looming refinery strike in Scotland. (AP)
