Oil prices soar

Oil prices surged above $93 a barrel today as political tensions in the Middle East and a weak US dollar saw the cost of crude soar to new trading highs.

Oil prices soar
Mon, 29 Oct, 2007 - 10:24

Oil prices surged above $93 a barrel today as political tensions in the Middle East and a weak US dollar saw the cost of crude soar to new trading highs.

Light, sweet crude for December delivery touched $93.19 a barrel in overnight trading on the New York Mercantile Exchange, setting a new intraday record before slipping back to $93.13.

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