March 1, 2012 / 8:52 PM / 6 years ago

Brent jumps above $128/bbl to highest since 2008

NEW YORK, March 1 (Reuters) - Brent crude futures jumped more than $5 on Thursday in post-settlement trading reacting to an Iranian media report of an explosion on an unknown Saudi oil pipeline.

Brent crude was up $5.18 at $127.84 a barrel at 3:41 p.m. EST (2041 GMT), having reached $128.40, the highest intraday price since July 23, 2008, when front-month Brent reached $129.50. (Reporting by Robert Gibbons; Editing by Lisa Shumaker)

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