Crude hits yet another all time high of $ 143.67/bbl

Prices hit yet another record high, above USD 143 per barrel. But it gave up some of these gains on profit-booking.

The surge came as traders bought the commodity to hedge against a weak dollar. There were also fresh concerns over supplies from Nigeria, after the country's Oil Minister confirmed an attack on its key bonny light crude oilfield.

Crude prices continue above 140 dollars a barrel after that all time record of USD142 per barrel it hit on Friday. It’s mainly fuelled by geopolitical tensions in Iran and a weak dollar. Falling stock markets also spurred investment in commodities. Crude prices are up more than 45 percent year-to-date.