Oil nears $82 per barrel as dollar hits new low

Oil prices hit new highs for the year Wednesday just as the dollar fell to new lows against the euro, showing how much the weak U.S. currency has come to dominate energy markets.

Benchmark crude for December delivery jumped more than 3 percent, or $2.71 to $81.83 a barrel on the New York Mercantile Exchange. It got as high as $80.70.

Gasoline futures spiked 4 percent and Brent crude rose $2.48 to $79.72 on the ICE Futures exchange.

Read Full Article from The Associated Press

- Posted: 2009-10-21 13:26:44

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