Oil hits high for 2009 as dollar plungesDespite increasing jobless claims and fewer highway miles, oil rises on Fed decision to buy bonds, lend to small businesses Chris Kahn The Associated Press
Oil prices hit new highs for the year on March 19 after a decision by the Federal Reserve to spend billions snapping up U.S. bonds sent the dollar tumbling.
Oil is priced in dollars and when the U.S. currency weakens, it essentially makes crude cheaper.
Benchmark crude for April delivery surged $3.1....
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