Oil hits $100 mark

Oil prices have reached $100 per barrel, almost reaching the peak point of $101.70 set in 1980 during the war between Iraq and Iran. Analysts say the high price is the result of a combination of things - geopolitical turmoil, weak US dollar and tight energy stockpiles.Troubles in Nigeria also raised the price of oil. Attacks of the rebels in Nigeria drive away workers and investors from the oil-rich region.Slow output of oil from the OPEC has also helped to rise the price by nearly 58%. OPEC is the source of a third world's oil, kept the output of oil steady in December, rather then increasing