BND: Oil higher on Nigerian attacks, cold weather in US
BANGKOK -- Oil prices rose above $73 a barrel Monday, driven by news of attacks on an oil pipeline in Nigeria and persistently cold weather in the U.S. northeast.
Prices were kept in check, however, by stalling stock markets in Europe and Asia and the continued strength of the U.S. dollar, which made crude more expensive for investors holding other currencies.
By early afternoon in Europe, benchmark crude for March delivery was up 43 cents at $73.32 a barrel in electronic trading on the New York Mercantile Exchange. The contract dropped 75 cents on Friday to settle at $72.89.
