Oil prices rocket

Oil prices reached record prices of over $102 a barrel this week, buoyed by the sliding US dollar and nervousness in world markets ahead of an OPEC meeting on production next week. US crude touched $102.08 a barrel just before lunchtime on Wednesday, while Brent North Sea crude struck an all-time high of $100.53. This week’s high oil prices led to speculation that the OPEC oil exporters’ cartel could hold production levels steady next week. Ministers from the 13-nation organisation meet in Vienna on March 5th to discuss supply.