Help us out, west asks Opec, with pound at 25-year high against dollar
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Business & money: Â·  Warning that oil could hit $95 a barrel by end of year Â·  UK inflation outlook may force sixth bank rate rise
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The pound leapt to yet another 26-year pinnacle against the dollar amid US housing market concerns and the prospect of higher interest rates in Britain, dealers said Wednesday.
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Opec, the oil producers&#39; cartel, is poised to raise its target price range for a barrel of crude this week - delivering a harsh message to oil-guzzling economies to get used to a $30 floor under prices.
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JAKARTA/DUBAI  - OPEC is united on the need to  raise its oil price target to an average $30 a barrel, but the  cartel has yet to agree on when to implement the higher level,  a top Iranian oil official said on Thursday.
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President George W. Bush said on Tuesday oil prices were "very high" and tough for the U.S. economy to bear. He said he would discuss the issue with the king of OPEC powerhouse Saudi Arabia. Oil prices are around $95 a barrel.
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Geopolitical fears following news of the killing of Pakistani opposition leader Benazir Bhutto hit the pound as well as the dollar, with the euro hitting a new record high of 0.7338 against the UK currency.
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US light crude jumps back above $42 a barrel as cartel prepares to meet to debate output. CAIRO  - Oil prices rose Thursday as OPEC producers debated whether the recent tumble in prices was severe
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The pound hit a 12-year high against the US dollar as negative sentiment surrounded the embattled US currency.
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Oil prices approach record highs as the weak dollar and more worries about supply inflate prices.
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Interest rate perceptions send the UK pound to its highest level against the US dollar in 26 years.
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The world's top finance officials on Friday asked oil-producing nations to step up output and agreed it was crucial to work out exactly why prices have soared to levels that threaten global growth.
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Another round of petrol price rises could be looming after crude oil prices hit the $US50 a barrel mark over the weekend. Oil prices are at their highest in more than 20 years due to supply concerns in Nigeria
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LONDON : The pound was higher against the dollar after the minutes of the Bank of England&#39;s (BoE) last rate setting deliberations revealed a dovish stance.
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ABU DHABI/VIENNA  - OPEC is worried by a fall in the dollar that is eroding member states' oil revenue and ministers will take up the issue when they meet next week to discuss a further cut in output.
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Opec is under pressure to lift official production levels at a critical meeting today as global crude prices rose again on the back of pipeline attacks in Iraq and hurricanes heading for the Gulf of Mexico.
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Business & money: Opec under fire as US crude nears $100 a barrel.
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Oil prices rose for the second day in a  row on Thursday as several OPEC ministers called for the cartel  to stop producing more oil than its official target to prevent  a glut next year.