World oil prices climb on faltering dollar
London (AFP) May 31, 2011 World oil prices soared on Tuesday as the dollar slid against the euro amid mounting speculation over another Greek bailout and as traders took heart from upbeat global economic data.
New York's main contract, light sweet crude for delivery in July, jumped $2.26 to $102.85 per barrel.
Brent North Sea crude for July rose $1.99 to $116.67 in late afternoon deals.
"Crude oil is up ... on dollar weakness," said SEB analyst Filip Petersson on Tuesday.