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Oil climbs above $126 to record as dollar weakens against euro

Posted: Monday, May 12, 2008 at 2211 hrs IST
Updated: Monday, May 12, 2008 at 2211 hrs IST

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Oil hovers below $79 after 3-day slide Oil spikes to USD 81.26 a barrel Oil eases to USD 78.65 a barrel Oil tops $80, highest since Oct 14, 2008

May 11 : first wrote of a “super spike” in March 2005, predicting crude may trade between $50 and $105 a barrel through 2009.

“There’s been a paradox, prices have surged over the last week while we’ve had bearish headlines,” said Nauman Barakat, senior vice president of global energy futures at Macquarie Futures USA Inc in New York.

—Bloomberg...

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Oil climbs above $126 to record as dollar weakens against euro

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