Oil leaps to record over $93
9:53 AM Mon, Oct 29, 2007 | Permalink
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LONDON - Oil leapt to a record high for a third day, surpassing $93 as Mexico briefly halted one-fifth of its production and the dollar struck new lows, according to Reuters. U.S. crude hit a high of $93.20 a barrel. Oil prices have soared by more than a third since mid-August as a stand-off between Turkey and Kurdish rebels, dollar weakness, easing interest rates and winter supply fears attracted a fresh wave of investment capital. Prices rose on Monday after Mexico's state-owned oil company Pemex said it was shutting about 600,000 barrels per day (bpd) of oil output due to bad weather in the Gulf of Mexico. 
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