The BBC web site reports that oil prices hit a new record high on Monday March 3rd, driven by the falling dollar and fading hopes of more supplies  US light, sweet crude made $103.95 a barrel, before dropping back to trade at $102.45.  London Brent also hit a record $102.  Analysts blamed the falling dollar, which makes oil an attractive investment  speculators and warn that it looks unlikely that oil exporters’ cartel Opec will raise production to help ease prices.

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