Oil prices spiked to a record above US$117 a barrel Monday in Asia, the Associated Press reported. Light, sweet crude for May delivery rose as high as US$117.05 a barrel in Asian electronic trading on the New York Mercantile Exchange early Monday. At midday in Singapore, the contract was trading at US$116.73 a barrel, up 4 cents from the end of last week. In other Nymex trading, heating oil futures were flat at US$3.2923 a gallon (3.8 liters) while gasoline prices fell 0.18 cent to US$2.9875 a gallon. Natural gas futures rose 1.3 cent to US$10.60 per 1,000 cubic feet. Brent crude futures for June rose 3 cents to US$113.95 a barrel on the ICE Futures exchange in London.
