Oil pushes to new high above $113
Oil prices rose to new heights Tuesday, surging to almost $114 a barrel after the dollar fell and concerns mounted about global supplies. U.S. retail gasoline and diesel prices also struck new highs.
Traders honed in on a report by the International Energy Agency that said Russian oil production dropped this year for the first time in a decade. The report raised concerns about whether the key oil-producing nation will have sufficient supply to help meet increasing global demand.
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04-15-2008, 06:40 PM
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