Oil price hits new peak

The cost of oil surged to a new record near US$144 a barrel today as oil company bosses gathered in Madrid to discuss rocketing prices.

Mon, 30 Jun, 2008 - 14:11

The cost of oil surged to a new record near US$144 a barrel today as oil company bosses gathered in Madrid to discuss rocketing prices.

Oil soared past US$143 a barrel on tensions in Iran as investors also sought refuge from a weaker dollar.

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