Wednesday, April 6, 2011

Oil at 30-month peak on Middle East, weak dollar | Reuters

(Reuters) - Oil prices hit fresh peaks on Wednesday, rising to highest since August 2008, buoyed by unrest in the Middle East and North Africa and dollar weakness ahead of an expected European Central Bank interest rate increase.

Brent crude rose $1 to breach through $123 a barrel at 1454 GMT, its highest since August 2008, and U.S. crude rose to its highest since September 2008 above $109.

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