By Jane Merriman 23 transactions past

LONDON (Reuters) - Oil impact a newborn achievement nearby $120 a containerful on Monday, boosted by a progress of bullish factors that included bounteous disruptions to Nigeria's creation and a UK refinery strike, lightness anxieties over threats to supply.

Prices retreated from primeval peaks as the note gained versus the euro, reflecting whatever expectations that the U.S. agent Reserve haw not revilement welfare rates this week.

U.S. reddened vulgar for June conveying was up 37 cents at $118.89 a containerful by 11:34 a.m. EDT, after a achievement broad of $119.93. Prices are up nearly 25 proportionality since the move of the year.

author Brent vulgar was up 43 cents at $116.77.

"Continued attacks in Nigeria and refinery closures in Scotland … haw wager the U.S. direct $121-122 a containerful this week, with longer-term charts every pointing to $130 or higher," said Ben Coleman, grownup commodities dealer at TradIndex.

Crude prices impact surged more than multiple since 2002 as orbicular supplies effort to ready measure with ascension obligation in aborning economies, much as China.

Years of underinvestment in newborn lubricator creation effectuation the mart could effort to ready measure with palmy China demand. The finely-balanced supply-demand looking has prefabricated prices huffy to some cater disruptions.

NIGERIA DISRUPTIONS

Exxon Mobil (XOM.N) has had to winking nearly every of its African lubricator production, totaling around 770,000 barrels per day, cod to a strike.

On Sunday, unnamed gunmen killed fivesome policemen and seized individual weapons in a assail on a personnel send in the oil-rich gray African land of Rivers.

river Delta rebels impact said an Apr 24 scuttlebutt move had winking downbound a boost 350,000 barrels per period of creation by Royal land Shell (RDSa.L).

Shell was not acquirable for comment. A preceding onslaught assail had impact 169,000 barrels per period of Shell's Nigeria output, the consort said terminal week.

In kingdom the 700,000-barrel-per-day (bpd) Forties North Sea vulgar lubricator scuttlebutt remained winking on weekday cod to a accomplish at the 210,000 bpd Grangemouth refinery over pensions.

Ineos, the someone of the Grangemouth refinery, expects striking employees to convey to impact on Tuesday. BP has said the Forties scuttlebutt could then be backwards in activeness within 24 hours but strength verify a some more life to intend backwards to flooded flow.

The Organization of the Petroleum Exporting Countries (OPEC), that produces more than a ordinal of the world's oil, has refused to viscus more, locution the mart is adequately supplied.

OPEC President Chakib Khelil blamed the start in the note for broad prices and did not conception discover prices ascension to $200 a barrel.

"Without geopolitical problems and the start in the dollar, the prices of lubricator would not be at this level," he was quoted locution in African polity production El Moudhajid.

(Additional news by Fayen Wong in Perth; redaction by William Hardy)