Oil hits intraday record of $112
SINGAPORE (AP) — Oil prices rise to an intraday trading record of US$112.48 a barrel on the New York Mercantile Exchange, after the U.S. dollar fell further and crude supplies to the U.S. and elsewhere were disrupted.
Light, sweet crude for May delivery added 28 cents to US$112.03 a barrel in Asian electronic trading on the New York Mercantile Exchange by midmorning in Singapore Tuesday.
The contract settled at a record US$111.76 a barrel Monday. It hit an intraday trading record of US$112.21 per barrel last week following a U.S. government report showing an unexpected decline in inventories. E-mail to a friend
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