Light sweet crude briefly touches new high of $117.48
Light sweet crude rose 23 cents to $116.92 a barrel in electronic trading on Monday after briefly touching a new high of $117.48 in the session.
Light crude for May delivery approached the $112 a barrel level, while Brent crude futures rose $1.74 to $124 a barrel.Buying momentum has continued as hopes fade for a quick resolution of conflicts in Libya.