Santosh Menon
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/ 12 May 2008

Oil retreats from record high in volatile trade

Oil retreated below a barrel on Monday in volatile trade that saw it briefly hit an all-time high earlier in the session. United States light crude, down more than at one point, rallied to a new record of ,40 a barrel, but by 4.17pm GMT it was ,04 down at ,92. London Brent crude futures, whose nearby contracts have moved into contango, fell ,78 down to ,62.

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/ 27 February 2008

Oil price hits new peak as dollar slumps

Oil powered to a new record above a barrel on Wednesday, closing in on its inflation-adjusted lifetime peak, as an ailing dollar on worsening United States economic data triggered a surge across commodities markets. US crude stood 15 cents higher at ,03 a barrel by 1pm GMT, off its new record high of ,08.

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/ 8 November 2007

Oil resumes march to $100

Oil recouped early losses to resume its march towards the -milestone on Thursday as resurfacing worries of tight winter supplies and continuing dollar weakness put the brakes on some early profit-taking. By 12.57pm GMT, United States crude for December delivery stood 57 cents up at ,94.

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/ 6 November 2007

Oil sets new record at $97

Oil leapt more than a barrel to a new record high of ,44 on Tuesday, as a weak dollar and tight fuel stocks prompted buying by speculators. Investors, wary of global equity markets where the full impact of the credit crunch has yet to become clear, see oil as a good bet.