Oil Climbs to $113 a Barrel

10 April 2011 (Last Updated April 10th, 2011 18:30)

US crude rose above $113 a barrel today, influenced by a weak dollar that continued to support a recent rally in commodities. The increase was attributed to concerns over long-term supply cuts due to the Libyan civil war, according to Reuters. Brent crude dipped by $1 after

US crude rose above $113 a barrel today, influenced by a weak dollar that continued to support a recent rally in commodities.

The increase was attributed to concerns over long-term supply cuts due to the Libyan civil war, according to Reuters.

Brent crude dipped by $1 after settling above $126 a barrel following news that Muammar Gaddafi had agreed to negotiate in settling the civil war in Libya.