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Bloomberg reports in New York, oil surged to a 31-month high as the dollar weakened to its lowest level since 2008.
Bloomberg reports in New York, oil surged to a 31-month high as the dollar weakened to its lowest level since 2008.
The market news is quoted as saying:
Crude for June delivery settled at $112.86 a barrel on the New York Mercantile Exchange, the highest closing price since Sept. 22, 2008. Oil has risen 5.7 percent in April and is poised for an eighth consecutive monthly advance, the longest streak since the contract began trading in 1983. Futures have gained 36 percent in the past year.