Oil jumped to a record above $111 a barrel on Monday, as a surprise weekend cut in the Federal Reserve discount rate and the fire sale of stricken U.S. investment bank Bear Stearns (BSC.N) sent the dollar to all-time lows.
Crude for April delivery was up 95 cents at $111.16 a barrel by 10:35 p.m. EDT, [...]
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Tags: Bear Stearns, Bsc, Currency, Dollar Weakness, Federal Reserve, Fire Sale, Fraction, Investment Bank, Jpm, Jpmorgan Chase, London Brent Crude, Management Executive, Mitsubishi, Nunan, Oil Prices, Rally, Risk Management, Slumps, Time Lows, Yen
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