Tuesday, April 15, 2008

Greedy Bastards!

Oil hits record $114 (new record..once again), Britain calls for OPEC hike

Oil prices are up about 18 percent from the start of the year and more than 80 percent since last April.

Oil and other commodities have rallied in recent months due to record weakness in the U.S. dollar. A weak dollar tends to raise prices for commodities denominated in that currency by boosting non-U.S. spending power and by attracting investors seeking an inflation hedge.

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