Oil prices advance to record highs as U.S. dollar weakens, attracting new investment
Summary from multiple countries, from articles in English
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Other commodities traded mostly higher, with crude oil rising to a new trading record above $110 and wheat futures advancing sharply as well. (article 9)
Many analysts believe the greenback's decline is the reason crude futures have surged to new records in 11 of the past 12 sessions, despite the fact that crude supplies have risen 10.2 percent since early January. (article 5)
Crude futures offer a hedge against a falling dollar, and oil futures bought and sold in dollars are more attractive to foreign investors when the dollar is weak. (article 5)
NEW YORK - Gas and oil prices jumped again to new highs Thursday as the U.S. dollar weakened, although crude's advance was limited by fresh evidence of a U.S. economic slowdown. (article 8)
The gains occurred as a weakening dollar led investors to shrug off an Energy Department report that crude oil and gasoline supplies jumped last week. (article 6)
The International Energy Agency has convened talks with global oil experts to help determine "whether current oil prices are justified by market fundamentals". (article 4)
The rise in oil prices came after the International Energy Agency, the western countries' energy watchdog, said that global oil demand growth in 2008 was relatively robust in spite of record prices and an economic slowdown in the US. (article 3)
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Story keywords
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Gold, oil, Crude, dollar, Futures |
Source articles
- Oil climbs above $110 as dollar falls (ft.com, 03/13/2008, 365 words)
- Fuel Prices Siphoning Money From U.S. Economy (Washington Post, 03/13/2008, 827 words)
- Oil close to breaching $110 a barrel (ft.com, 03/11/2008, 448 words)
- Oil watchdog to analyse record highs (ft.com, 03/12/2008, 480 words)
- Oil Above $110, Close to Record (Washington Post, 03/13/2008, 525 words)
- Falling dollar keeps pushing oil higher (boston.com, 03/13/2008, 448 words)
- Oil Falls From Record $111 a Barrel (Washington Post, 03/13/2008, 364 words)
- Oil prices advance to record highs as U.S. dollar weakens, attracting new investment (cbc.ca, 03/13/2008, 481 words)
- Precious Metals Rise on Dollar Drop (Washington Post, 03/13/2008, 476 words)
- Precious Metals Rise on Dollar Drop (Washington Post, 03/13/2008, 459 words)
- Gold Rises on Fed Liquidity Boost (Washington Post, 03/13/2008, 493 words)
- Multiple blows cause consumers to stop spending (sfgate.com, 03/13/2008, 624 words)
- Crude oil inventories rise (dallasnews.com, 03/12/2008, 259 words)
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