Oil Prices Hit Yet Another Record High at $109 a Barrel!

Not that we’re surprised any more since oil prices have been breaking records for months now, but light sweet crude oil for April delivery surged to a new high of $109.72 on the New York Mercantile Exchange today (March 11, 2008). Then again, with the current exchange rates between the USD and the Euro, that calculates to just €70.9 a barrel for our European friends. However, oil prices continue to rise in Europe the same way they do in the States despite the tumbling dollar…