Oil hovers near $115 record high
April 17, 2008 Posted by
Oil prices are hovering close to $115 a barrel, having crossed the record mark on Thursday after a US inventory report raised concerns about supplies.
US light, sweet crude oil pulled back slightly to $114.97 in Asian trading from the previous day’s $115.21 high.
Brent crude hit an all-time peak of $112.83 before falling back slightly.
The weak dollar has helped to draw investors towards commodities, which are cheaper for foreign buyers because they are priced in the US currency.
Full story: http://news.bbc.co.uk/1/hi/business/7351913.stm
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