Oil produced by the Organization of the Petroleum Exporting Countries (OPEC) leaped above 120 dollars at the end of last week, striking above that level for first time since August 2008, the group said Monday, DPA reported.
The cartel's basket price jumped 2.36 dollars and reached 120.01 dollars per barrel (159 litres) on Friday, amid concerns about the situation in OPEC member country Nigeria, where a parliamentary vote took place on the weekend.
The polls were indeed overshadowed by violence, as at least 14 people died in two bomb attacks on Friday and Saturday.
OPEC oil jumps above 120-dollar mark
Oil produced by the Organization of the Petroleum Exporting Countries (OPEC) leaped above 120 dollars at the end of last week, striking above that level for first time since August 2008, the group said Monday.