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Film show: My French Film Festival, 'Stalin's Couch' and 'Birth of a Nation'

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Video: Central Africans bid reluctant farewell to makeshift camp

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Iraq: On the ground with French troops in Mosul

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2017 French presidential election: Can newcomer Macron win?

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BUSINESS DAILY

Davos 2017: WEF considers challenges for Paris Climate Agreement

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BUSINESS DAILY

Davos 2017: 'Globalisation is biggest challenge'

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BUSINESS DAILY

Davos 2017: Businesses ready to seize new opportunities

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Davos 2017: Hard Brexit 'a double-edged sword for Ireland'

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IN THE PAPERS

French papers: A small slap for Valls, a major PR blow for his campaign

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Oil trades at record $111.80

Latest update : 2008-03-17

Oil prices surged to a record high of close to 112 dollars in Asian trade on Monday, as the US currency's continued drop triggered a rush of funds into commodities.

Oil prices surged to a new high in Asian trade Monday of nearly 112 dollars as the US currency slumped to a fresh low against the euro, sparking a rush of funds into commodities, dealers said.
   
In late afternoon trading, New York's main contract, light sweet crude for April delivery briefly traded at 111.80 dollars a barrel before easing to 111.55 dollars.
   
The contract closed Friday during floor trading at the New York Mercantile Exchange at 110.21 dollars.
   
New York oil prices' latest record-setting mark came as the euro rose to a lifetime peak of 1.5905 dollars in Asian trading Monday while the US currency fell to as low as 95.75 yen, a bottom not seen since September 1995.
   
The dollar's continued plunge has triggered a flood of funds into commodities such as oil which are seen as safe havens amid rising concerns over the US economy and financial turmoil from a global credit squeeze.

Date created : 2008-03-17

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