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^ Top   #1   04.15.2008

Cybergal Trucker Forum STAFF   Member Since: Jan 2006 Location: USA Trucker? Trucking Industry Posts: 21,069 My Trucking Photos: 27 Thanks: 1,410 Thanked: 1,184 Times My Truckers Blog : 14

Oil pushes to new high above $113 Oil pushes to new high above $113 4/15/08 Quote: VIENNA, Austria - Oil prices rose to new heights Tuesday, surging to almost $114 a barrel after the U.S. dollar fell and worries mounted about the global oil supply. A report from the International Energy Agency said Russian oil production dropped this year for the first time in a decade. Crude oil shipments along one U.S. pipeline were said to be moving below capacity. And Italy's ENI reported a 5,000 barrel per day reduction in production at one of its facilities in Nigeria. Light, sweet crude for May delivery on the New York Mercantile Exchange rose as high as $113.66 a barrel by afternoon in Europe before backing off. That was $1.45 above the previous record set last week. The contract closed at a record settlement price of $111.76 a barrel on Monday. The recent run above $100 a barrel has been largely attributed to a steadily depreciating U.S. currency because a weakening dollar prompts investors to seek a safe haven in hard commodities such as oil and gold. http://news.yahoo.com/s/ap/20080415/...D6MMrRva6s0NUE __________________ The Truckers Report Merchandise

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