Oil prices hit new high

Crude oil prices rose to new highs near US$112 a barrel today as plunging stock markets prompted investors to plough more money into commodities.

Mon, 17 Mar, 2008 - 13:52

Crude oil prices rose to new highs near US$112 a barrel today as plunging stock markets prompted investors to plough more money into commodities.

The price of light, sweet crude for April delivery touched US$111.80 in early electronic trading on the New York Mercantile Exchange, before slipping back to US$110.30.

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