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