UK Telegraph
Oil climbed above $125 a barrel on Friday after attacks on Libyan oil fields reignited worries about supply and inflation fears pushed gold to a new record high.
Brent crude was up more than $2 at a fresh two-and-a-half-year high of $125.05 in late afternoon trading in London. This is highest intraday level for front-month Brent crude since August 4, 2008, when the price hit $125.30.
Rising oil, metal and food prices have stoked inflation in economies around the globe and created concerns that it will damage the fragile economic recovery.
Inflation jitters and the weaker dollar saw investors buy gold and silver, which rose above $40 an ounce for the first time since 1980. Gold was up $13.30 at $1,471.47 an ounce...[Full Article]
