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This is an archive article published on May 6, 2008

Oil futures cross record $120 on supply worries

Oil futures surged to a new record over $120 a barrel Monday, raising concerns about higher prices for gasoline...

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Oil futures surged to a new record over $120 a barrel Monday, raising concerns about higher prices for gasoline and goods and services. Supply threats and a weaker dollar sent light, sweet crude for June delivery to a new trading record of $120.21 a barrel on the New York Mercantile Exchange before futures retreated slightly to trade up $3.46 at $119.78.

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