New Record for Crude Amid Supply Disruptions

West Texas Intermediate (WTI) for June delivery rose 23 cents to settle at $118.75/bbl. Brent crude for June settlement rose 40 cents, or 0.3 percent, to settle at $116.74 a barrel on London's ICE Futures Europe exchange, a record close. The contract touched an all-time intraday high of $117.56 on April 25.

Helping crude on its upward march are renewed tensions between Iran and the United States as well as continued militant attacks in Nigeria which have reduced output by 50%, according to t

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