SINGAPORE (AP) -- Oil futures rose to an all-time high near $121 a barrel today in Asia, fueled by worries about threats to supply and a weakening of the U.S. dollar.

Light, sweet crude for June delivery rose to a record $120.93 a barrel in electronic trading on the New York Mercantile Exchange. The contract later retreated to $120.24 a barrel, up 27 cents from Monday's close.

Supply outages or potential threats to supply emerged in Iran and Nigeria over the weekend and from Iraq on Monday. Events in all three nations have caused prices to spike many times in recent months.

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