Friday, October 26, 2007


"Oil prices shot to an all-time high above $92 a barrel on Friday as the tumbling dollar and Nigerian output disruptions helped extend a rally that has lifted prices nearly 30 percent since August.


Oil got a boost on Friday after a rebel attack on a oil rig in OPEC-member Nigeria operated by Italian firm ENI shut 50,000 barrels per day of production.

Traders were also eyeing new U.S. sanctions against Iran, the No. 4 oil exporter, which is add odds with the U.N. Security Council over its nuclear program. Washington accuses Tehran's Revolutionary Guard of spreading weapons of mass destruction."