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Oil Tops Record High $113

Dollar's decline chief cause of spike

By Greg Atwan, Newser User

Posted Apr 15, 2008 6:44 AM CDT

(Newser) – Crude oil hit a new record high in trading today—$113.66 a barrel—as weary investors attempted to hedge against a tumbling dollar and oil shipments were disrupted around the world. Though the dollar is the main concern, supply problems, including OPEC's decision not to change its 2008 outlook and the closure of a top Mexican export terminal, didn't help, the AFP reports.

Graphic shows the price of crude oil; 1c x 3 1/8 inches; 46.5 mm x 79.4 mm (AP Photo)

Oil storage tanks are seen in Kawasaki industrial area, south of Tokyo, Tuesday, April 1, 2008. (AP Photo/Itsuo Inouye)

The increasingly enervated US dollar is in part to blame for the recent spike in oil prices. ((c) sunshinecity)

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Oil Tops Record High $113

Dollar's decline chief cause of spike

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Oil Gushes to Record $105.96

A weakening dollar and falling inventories of oil are pushing crude prices up

$200 Oil on Horizon: Economists

Decreasing supply will mean increasing prices

Oil Tops $130

Supply concerns drive crude

Oil Hovers Near $102 a Barrel

Iraq fighting, low gas supplies and weak dollar boost price

$100 Oil Fuels Recession Fears

Speculation is driving oil up, and that's a concern for consumers, economists

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Oil Tops Record High $113

Dollar's decline chief cause of spike

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OTHER STORIES ON OUR RADAR

Wachovia • oil price • crude oil • US dollar • weak dollar • $100 a barrel oil

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Oil Gushes to Record $105.96

A weakening dollar and falling inventories of oil are pushing crude prices up

$200 Oil on Horizon: Economists

Decreasing supply will mean increasing prices

Oil Tops $130

Supply concerns drive crude

Oil Hovers Near $102 a Barrel

Iraq fighting, low gas supplies and weak dollar boost price

$100 Oil Fuels Recession Fears

Speculation is driving oil up, and that's a concern for consumers, economists

About Us

Site

Newser By Users

Community

Site Maps

Tools

More News

What is Newser?