Crude Oil surges to $107
The New York Mercantile Exchange (Nymex) benchmark oil contract has exceeded $107 per barrel in midday trading as the value of the US dollar continues to plunge
In the space of one month, West Texas Intermediate (WTI) has been up by nearly $20 per barrel (/bbl). WTI for April delivery rallied by 2.2%, to reach a new record of $107.44/bbl in late-morning trading in New York.
In London, prices for ICE Brent crude climbed 0.4% to $102.81 a barrel on London's ICE Futures Europe exchange. Futures reached a record $103.98 a barrel on March 7.
"The sliding dollar
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