Oil prices continue to spiral

Oil prices hit a new record of nearly US$126 today as a weakening US dollar and supply concerns boosted prices.

Oil prices continue to spiral
Fri, 09 May, 2008 - 14:47

Oil prices hit a new record of nearly US$126 today as a weakening US dollar and supply concerns boosted prices.

Light sweet crude for June delivery rose as high as $125.98 in New York, with Brent crude soaring above $124 a barrel.

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