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Crumbling U.S. dollar shoots crude oil higher
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Thursday, October 22, 2009
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From Newsmax:

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 rose $2.25 to settle at $81.37 a barrel on the New York Mercantile Exchange. Prices hit $82 at one point.

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More on oil:

Crude oil heads for $80

Jim Rogers: Oil could trade for $200

BREAKOUT: Crude oil hits new 2009 high

Topics: Energy | US dollar | Commodities
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