Oil

Wednesday, April 16, 2008

NEW YORK - Oil prices jumped to a new peak over $114 a barrel on Tuesday amid lingering supply worries and weakness in the US dollar, deepening concern in world consumer nations that a spike in energy costs could cause severe economic damage.

Britain's prime minister, Gordon Brown, on Tuesday called on the Organization of the Petroleum Exporting Countries to boost production to counter rapidly rising oil prices, adding his voice to similar requests from the administration of President George W. Bush.

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