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(CBS) Oil prices hit a record $105.10 a barrel Thursday, a day after a surprise drop in U.S. crude supplies and a decision by OPEC not to boost production. Prices gave up some ground by midday trading in Europe. Full Article at CBS 5
Related Articles
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The U.S. dollar fell to another record low against the euro Thursday, persuading many investors to switch into commodities such as oil. Full Article at CBC News
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Oil steadied after hitting a new high near $106 on Thursday as a weak dollar helped prices to extend the previous day's gains prompted by a drop in US oil inventories and Opec's decision to keep output unchanged. Full Article at TradeArabia
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LONDON : Oil prices soared to a record high close to US$106 a barrel on Thursday as traders were spooked by a small explosion in New York, a surprise fall in US crude stockpiles and the weak US currency. Full Article at Channel News Asia
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The organization of petroleum exporting countries (OPEC) blamed United States of America Thursday for "mismanagement of the economy", which, they claim, pushed the oil price to new record heights. Full Article at Makfax
Related Quotes
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The primary factor causing the surge in oil prices is the surprising drawdown in crude inventories, which caused traders to really react quite dramatically
SOURCE: CBS 5 -
Five dollars is an incredible gain ... The overall oil market fundamentals are supportive of strong oil prices but not at this level, above $100. I would expect some profit taking to put a temporary halt to this rather large surge in pricing.
SOURCE: CBS 5 -
If the prices are high, definitely they are not due to a lack of crude. They are due to what's happening in the U.S.
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I would suggest that we would have to get used to it.
SOURCE: Agence France-Presse
