Oil prices on the up and up

[NewsWhore]

International oil prices have reached another all-time high, reaching US$105 per barrel. This is the third time in two weeks that the barrel has reached record highs. Last week the price per barrel reached US$102 and US$103 on consecutive days of trading. The increase in oil prices is partly due to OPEC's decision to maintain its oil export quotas and fears caused by the tensions between Colombia, Venezuela and Ecuador.

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