Oil Prices Surge and Dollar Falls
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The dollar fell to an all-time low against the euro and oil prices hit a record, suggesting higher prices for imports.
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The dollar was under pressure on Thursday  after the previous day's spike to a three-week high versus the  euro was eroded by a sharp rebound in oil prices.
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Oil prices surged to a new high above  $47 a barrel Wednesday on evidence from major economies that  energy costs are not substantially slowing the economic growth  that fuels oil demand.
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Oil prices surged nearly $2 a barrel Wednesday following two bombings in the capital of Saudi Arabia and after the US government reported that winter fuel supplies shrank last week.
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NEW YORK - Oil prices climbed to within a dollar of a new record on Wednesday after the US government reported a big decline in oil stockpiles because of disruptions from Hurricane Ivan.
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Oil prices surged $2 a barrel late yesterday, as energy traders rushed back into the market amid frigid temperatures in the United States and political tension overseas.
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Oil prices surged to a new high above  $47 a barrel on Wednesday on evidence that energy costs are not  substantially slowing the economic growth that fuels oil  demand.
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Oil prices surged on Wednesday as U.S.  government reported a fall in heating oil stocks and cold  weather gripped the U.S. Northeast, the world's biggest heating  fuel market.
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The dollar climbed across the board on  Monday, buoyed by a retreat in oil prices and hopes that U.S.  economic reports this week would provide some positive  surprises.
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Oil prices dipped on Thursday after leaping to a lifetime high of $100 the day before amid a new-year rush of investor demand fuelled by expectations of thinning U.S. stockpiles, the falling U.S. dollar and geopolitical risks.
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European stocks jumped, bond prices fell  and the dollar was firm on Monday on relief oil prices had  retreated from last week's record highs, soothing investor  nerves about global economic and earnings growth.
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Oil prices approach record highs as the weak dollar and more worries about supply inflate prices.
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Oil rose more than $1 on Monday as the dollar slipped and tensions between the United States and Iran stoked supply concerns.
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Oil rose more than a dollar on Thursday in response to a big fall in crude oil stocks in top consumer the United States and the killing of Pakistani opposition leader Benazir Bhutto in a gun and bomb attack.
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The price of oil jumped back above 90 dollars on Friday, helped by a recovery in global stock markets on the back of plans for a stimulus package to prevent the US economy falling into recession, traders said.
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Oil prices surged within touching distance of record highs after an unexpected fall in US crude stockpiles fanned supply fears.
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Oil prices jumped more than a dollar,  climbing above $48 a barrel on Wednesday after U.S. data showed  the disruption caused by Hurricane Ivan had eaten into fuel  stocks.