Oil rises to intraday record above $112
Oil prices rose to an intraday trading record above $112 a barrel Tuesday as the US dollar fell against the euro and crude oil shipments along one US pipeline were said to be operating below capacity.Light, sweet crude for May delivery on the New York Mercantile Exchange rose to an intraday record of $112.80 a barrel in electronic trading by early afternoon in Europe, well above the previous trading high of $112.21 set last week.
Oil prices jumped to a new record above $106 Friday in choppy trading after the dollar fell to a new low against the euro.