NEW YORK --- Oil prices climbed higher today as weakness in the U.S. dollar offset the news that an oil pipeline in Iraq had been repaired, the Associated Press reported.
By the afternoon in Europe, light, sweet crude for May delivery rose 28 cents to reach $105.90 a barrel in electronic trading on the New York Mercantile Exchange. Earlier in the session, the Nymex contract had fallen as low as $104.34. Brent bottomed out at $102.86 before recovering, AP reported.
On Friday, the Nymex contract fell $1.96 to $105.62 a barrel.
In London, Brent crude futures rose 15 cents to reach $103.92 a barrel on the ICE Futures exchange.