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Oil Prices Set New Highs Above $110

Oil prices on Thursday hit a record high above $110 a barrel as investors fled the tumbling dollar that fell to new lows against the euro and a 12-year low versus the yen, according to the Associated Press.

Light, sweet crude for April delivery rose 78 cents to reach $110.70 in early afternoon European electronic trading on the New York Mercantile Exchange. On Wednesday, it had set a record trading high of $110.20 a barrel.

Posted by Peter C. T. Elsworth  at 9:39 AM to Crude oil market | Permalink

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