Oil price hits record high
May 17 - American consumer confidence sinks to 28 year low as oil prices hit another record.
Oil prices streaked toward $128 a barrel knocking down U.S. stocks and the dollar, while a slump in U.S. consumer confidence added to worries about the health of the U.S. economy. On Friday, at the New York Mercantile Exchange, crude oil prices surged to a record $127.82 (USD) a barrel.
Penny Tweedie reports.
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