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| Version 3 | Version 4 |
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| London oil price hits $146 record | London oil price hits $146 record |
| (9 minutes later) | |
| The price of oil has continued to climb - with Brent crude rising above $146 a barrel for the first time. | The price of oil has continued to climb - with Brent crude rising above $146 a barrel for the first time. |
| Brent crude rose by $2.08 to $146.34 a barrel in London. US light, sweet crude rose by more than $1 to $145.22. | |
| Oil prices have risen significantly since the US government announced on Wednesday that its crude stockpiles had fallen by more than expected last week. | Oil prices have risen significantly since the US government announced on Wednesday that its crude stockpiles had fallen by more than expected last week. |
| The president of oil group Opec has warned that prices could rise further today if eurozone interest rates go up. | The president of oil group Opec has warned that prices could rise further today if eurozone interest rates go up. |
| Opec president Dr Chakib Khelil told the BBC on Wednesday that a rise in eurozone rates would weaken the dollar further, and would cause oil prices to rise. | Opec president Dr Chakib Khelil told the BBC on Wednesday that a rise in eurozone rates would weaken the dollar further, and would cause oil prices to rise. |
| A weaker dollar makes oil a more attractive investment. | A weaker dollar makes oil a more attractive investment. |
| Overnight, the dollar traded at its lowest level against the euro for more than two months, falling to $1.5891 per euro. | Overnight, the dollar traded at its lowest level against the euro for more than two months, falling to $1.5891 per euro. |
| Tensions | Tensions |
| Analysts said that a combination of the weak US dollar, a drop in equity markets, higher demand, and concerns about supply disruptions in the Middle East and Africa have forced prices up. | Analysts said that a combination of the weak US dollar, a drop in equity markets, higher demand, and concerns about supply disruptions in the Middle East and Africa have forced prices up. |
| "The current market is being driven by the weaker dollar and with the equity markets a disaster, investment money is looking for a more profitable market," said Tetsu Emori, a Tokyo-based fund manager. | "The current market is being driven by the weaker dollar and with the equity markets a disaster, investment money is looking for a more profitable market," said Tetsu Emori, a Tokyo-based fund manager. |
| Tensions have also been escalating between the US and Iran. | Tensions have also been escalating between the US and Iran. |
| Iran would respond "fiercely" to any attack against it, Iranian oil minister Gholam Hossein Nozari said on the sidelines of the World Petroleum Congress in Madrid. | Iran would respond "fiercely" to any attack against it, Iranian oil minister Gholam Hossein Nozari said on the sidelines of the World Petroleum Congress in Madrid. |
| However, the minister said that Tehran would not cut oil deliveries and would continue supplying the market even if struck by Israel or the US. | However, the minister said that Tehran would not cut oil deliveries and would continue supplying the market even if struck by Israel or the US. |
| Fuel prices | Fuel prices |
| Russian President Dmitry Medvedev, speaking ahead of next week's G8 meeting of leading industrialised nations, predicted that prices would climb to $150 a barrel. | Russian President Dmitry Medvedev, speaking ahead of next week's G8 meeting of leading industrialised nations, predicted that prices would climb to $150 a barrel. |
| "Unfortunately, rising oil prices create problems for the world's economy," he said. | "Unfortunately, rising oil prices create problems for the world's economy," he said. |
| Companies across the world have been suffering under the strain of higher oil prices. | Companies across the world have been suffering under the strain of higher oil prices. |
| Air New Zealand has become the latest airline to say it cannot continue to absorb the rising cost of jet fuel, which is now more than $170 a barrel. | Air New Zealand has become the latest airline to say it cannot continue to absorb the rising cost of jet fuel, which is now more than $170 a barrel. |
| The carrier announced on Thursday that domestic fares would rise by 3% and international fares by 5%. | The carrier announced on Thursday that domestic fares would rise by 3% and international fares by 5%. |
| That followed a profit warning from Hong-Kong based airline Cathay Pacific on Wednesday. | That followed a profit warning from Hong-Kong based airline Cathay Pacific on Wednesday. |