Oil prices at record of 109.20 dollars, Euro hit new high amid US money printing

L to R: Samantha Ranatunga, Chairman, HVA Foods PLC; Jan Müggenburg, Chief Executive Officer, Müggenburg Group; Graham Stork, Chief Executive Officer, HVA Foods PLC; Sarva Ameresekere, Group Chairman, George Steuart & Co. Ltd.

LONDON, March 11, 2008 (AFP) - Oil prices struck a record high of 109.

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20 dollars per barrel on Tuesday after the dollar hit a fresh all-time low against the euro, traders said.

The euro reached a record high of 1.

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5495 in European tradin. A weaker US currency increases demand for dollar-denominated oil as it becomes cheaper for buyers using stronger currencies.

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