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Oil crosses record $110, despite supply ris

Oil prices rebounded to another record high Wednesday afternoon March 12, 2008 after initially plummeting when the US government report said supplies of crude and gasoline had risen much more than expected.

In afternoon trading, U.S. light crude for April delivery surged to a high of $110.20 before closing at $109.92. Oil had traded as low as at $107.09 following the report's release on Wednesday morning.

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Oil reaches a new record high

VIENNA, Austria (AP) -- Oil prices topped $109 a barrel for the first time Tuesday as investors sought refuge from the anemic dollar.
Oil's growing strength comes amid warnings that there are no signs of relief on the immediate horizon.

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Oil nears $106for the first time

Unexpected drop in crude supplies, OPEC decision send prices to record high. Oil prices were sent sky-high on an unxpected drop in crude supplies.

Oil prices neared $106 a barrel Wednesday for the first time ever after a government report showed a surprise dip in crude supplies and OPEC announced its decision to not increase production.

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