RealNews

Oil nears 105 dollars in Asian trade

Oil edged close to 105 dollars a barrel in Asian trade on Thursday, touching another new record high after an unexpected drop in US stockpiles and OPEC’s rejection of calls to increase output. Dealers said the continued weakness of the dollar was also helping drive crude prices, which have hit a string of records and led US President George W. Bush to urge the OPEC cartel to boost production. Full Story

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