Oil hits a new high.

Rodney Hood

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Crude oil for August delivery rose as much as $2.62 a barrel, or 1.9 percent, to $142.26 in electronic trading on the New York Mercantile Exchange. It was at $141.95 at 12:31 p.m. London time.

Yesterday, the contract rose $5.09, or 3.8 percent, to $139.64 a barrel, a record settlement price, as Libya threatened to cut output and OPEC's president said prices may reach between $150 and $170 within months.

http://www.bloomberg.com/apps/news?pid=206...&refer=home
 



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