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December 2, 2008 6:29:35 AM CST

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Oil Tops Record High $113

Posted Apr 15, 08 6:44 AM CDT in Business 

(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.

Source AFP

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


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