Wednesday, April 16, 2008

Oil scales new record above $115

The weakening US dollar is having a big effect on oil prices


Go to BBC News original
US light, sweet crude oil rose to $115.07 before easing a touch to end New York trading at $114.93.
Meanwhile, Brent crude hit an all-time peak of $112.79 before falling back.

The weak dollar has helped to draw investors towards commodities, which are cheaper for foreign buyers because they are priced in the US currency.

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