Price of crude oil reaches new record high

May 9, 2008 

The price of oil per barrel has risen to a new all time high. During trading in Asia and in London, England the price of NYMEX Crude oil futures, per barrel, was at US$124.34 (22:07 eastern time) setting a new record high. Brent Crude oil also hit a new record high of US$122.84, but soon retreated to $121.79. 
Several factors, including a weaker U.S. dollar and worries on the world supply, have caused the price of oil to skyrocket in the past week. 
Despite worries, OPEC states that supply is currently meeting the current demands and there is currently no shortage of oil.
Price of crude oil reaches new record high May 9 , 2008 The price of oil per barrel has risen to a new all time high . During trading in Asia and in London , England the price of NYMEX Crude oil futures , per barrel , was at US$ 124.34 ( 22:07 eastern time ) setting a new record high . Brent Crude oil also hit a new record high of US$ 122.84 , but soon retreated to $ 121.79 . Several factors , including a weaker U.S. dollar and worries on the world supply , have caused the price of oil to skyrocket in the past week . Despite worries , OPEC states that supply is currently meeting the current demands and there is currently no shortage of oil .
Price
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crude oil
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The price
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oil
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barrel
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trading
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Asia
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London
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England
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the price
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NYMEX Crude oil futures
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barrel
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22:07 eastern time
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a new record
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Brent Crude oil
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a new record
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Several factors
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a weaker U.S. dollar
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worries
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the world supply
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the price
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oil
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the past week
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worries
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OPEC
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supply
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the current demands
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no shortage
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oil
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NYMEX Crude oil futures
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US$122.84
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