Oil hits new high above $114, dollar supports 1 hour, 37 minutes ago Oil struck a new record high above $114 a barrel on Wednesday, buoyed by the weak U.S. dollar, inflows of speculative money and long-term constraints on supply. U.S. crude was 53 cents higher at $114.32 a barrel by 5:43 a.m. EDT, just below a fresh peak of $114.41. Today's price is more than three times the average price of 2002, when oil's rally began. London Brent crude for the new front-month of June was up 54 cents at $112.12. "The funds and technicians are in the driving...
