Oil Hits New Record $115

Oil Price Crosses 115 dollars

Oil prices streaked into new record territory for the second straight day Wednesday, boosted by a decline in US energy reserves and as the weakening dollar drew investments in commodities. New York's main oil futures contract, light sweet crude for delivery in May, crossed 115 dollars a barrel for the first time on its way to an intraday record high of 115.07. It settled up 1.14 dollars at a record close of 114.93 dollars. In London, Brent North Sea crude for June struck an intraday record high of 112.79 dollars a barrel before closing at a record 112.66 dollars, a gain of 1.08 dollars