Oil Prices Hit Record High as Dollar Falls

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Oil Prices Hit Record High as Dollar Falls

Vienna, Austria, April 15, 2008--Oil prices rose to an intraday trading record above $112 a barrel Tuesday after the U.S. dollar fell and crude supplies were disrupted.

The dollar fell against the euro on Monday, which helped spark the oil increase.

Light, sweet crude for May delivery rose to $112.48 a barrel in electronic trading on the New York Mercantile Exchange, surpassing the previous trading record of $112.21, set last week.