Oil hits $60 for 1st time in six months

LONDON: Oil prices hit $60 a barrel yesterday for the first time in six months, boosted partly by a weak dollar and gains on equity markets.

US crude touched $60.08 a barrel, its highest since November last year. It has risen about 20 percent this month.

The US dollar fell to a four-month low, helping oil, which is priced in dollars and tends to rise when the dollar falls.