icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

Black gold prices reach record highs

Across in the United States crude oil futures havereached another all-time high, topping $US106 a barrel on Friday. Analysts say the surge is being driven by the weak U.S. dollar, which briefly hit an all-time low against the euro on Friday.

Light Sweet fell back from $US106 to settle at $US105.15 a barrel at the close of trade in New York.

Brent closed just above $US102 a barrel in London.

The week has seen record figures for oil, and there are several reasons for this.

As well as that weak dollar, a fall in U.S. inventories and OPEC's decision on Wednesday not to increase output have all contributed to the rise.

Dear readers and commenters,

We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system.

Sorry for the inconvenience, and looking forward to your future comments,

RT Team.

Podcasts