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Oil Sets New High Above $113 a Barrel

VIENNA, Austria -- Oil prices set yet another intraday trading record Tuesday, surging close to $114 a barrel as the U.S. dollar fell and crude oil shipments along one U.S. pipeline were said to be moving below capacity, according to the Associated Press.

Light, sweet crude for May delivery on the New York Mercantile Exchange traded as high as $113.66 a barrel by afternoon in Europe. That was $1.45 above the trading record set last week and $1.90 above Monday's record settlement close of $111.76 a barrel.

Posted by Peter C. T. Elsworth  at 10:02 AM to Crude oil market | Permalink

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