OIl Prices on The Rise Again

BANGKOK, Thailand (AP) -- Oil prices have surged above $143 a barrel for the first time ever today.
Light, sweet crude for August delivery rose $3.46 to $143.67 a barrel in electronic trading on the New York Mercantile Exchange, by midday in Europe.
On Friday, oil spiked to $142.99 a barrel in New York, though it closed at $140.21.
Expectations of a weaker dollar have investors turning towards dollar-denominated oil futures as a hedge against inflation.
(Copyright 2008 by The Associated Press. All Rights Reserved.)

Comments are posted from viewers like you and do not always reflect the views of this station. powered by Disqus