Oil sets new record, with no end in sight

05/22/2008 | CNNMoney

Oil prices crossed the $135-a-barrel threshold today, and some analysts said there is no end in sight to the upward climb. "The U.S. dollar was weaker last night, and also the U.S. EIA report showed an unexpected decline in U.S. commercial crude oil inventories, so there's a combination of factors pushing the oil prices higher," said a commodity strategist with the Commonwealth Bank of Australia.

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