A new record for black gold

Oil is back on the boil: US crude futures closed above the $100 a barrel mark for the first time this week. But can black gold remain at these levels in the face of an economic slowdown?

Oil is back on the boil. US futures closed above the $100 a barrel mark for the first time this week, homing in on the inflation-adjusted 1980 record of almost $103.

A series of supply problems have rattled the tight market, including a pipeline leak in Nigeria, where violence has already shut a fifth of the country's oil facilities.

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