Oil prices soars to US$146 a barrel

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Source: CCTV.com | 07-04-2008 13:46

Oil prices briefly soared to a new high near 146 US dollars a barrel on Thursday, extending the previous day's rally before easing as the dollar gained ground against the Euro.

Oil prices briefly soared to a new high near 146 US dollars a barrel on Thursday, extending the previous day's rally before easing as the dollar gained ground against the Euro.(AFP/File/Alessandro Abonizzio)

Crude oil for August delivery added 80 cents to 144 dollars and 37 cents on the New York Mercantile Exchange.

Earlier in the session, it rose as high as 145 dollars and 85 cents a barrel, topping a trading record set the previous day. The slumping US dollar has been a factor in driving oil prices up by half this year.

The surging price is also propelled by reports of lower crude stockpiles in the US, concerns about conflict with Iran and comments by Saudi Arabia's oil minister suggesting no boosts in production.

Editor:Du Xiaodan