Oil rallies to new high above $127

reuters.com     May 16, 2008            

By Margaret Orgill LONDON (Reuters) - Oil climbed to a new record high above $127 on Friday, driven upwards by a weaker dollar and a bullish market for distillate fuels as China and Europe scramble for diesel amid thin global supplies. U.S. crude for June delivery climbed to a peak of $127.43 but... [read full story]                

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