Oil prices rise above $116 a barrel

Friday, April 25th 2008, 8:51 am
By: News 9

Associated Press - April 25, 2008 6:33 AM ET

SINGAPORE -- Oil prices slipped in Asian trading today after falling more than $2 a barrel yesterday on a strengthening dollar. But now they're coming back up.

A barrel of crude is now more than $116, after falling below that mark earlier in the day. Reports of an attack on a Nigerian pipeline caused the price to rebound.

Few analysts are willing to predict that oil's record run is over. Investors remain concerned about tight supplies amid growing global demand.