Oil prices hit new high

Oil prices set a new record high above US$102 a barrel today, sparking fears of more pain for motorists on UK forecourts.

Wed, 27 Feb, 2008 - 10:38

Oil prices set a new record high above US$102 a barrel today, sparking fears of more pain for motorists on UK forecourts.

Light, sweet crude for April delivery reached US$102.08 on the New York Mercantile Exchange (Nymex) as investors turned to energy investments to combat a weakening dollar.

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