International crude oil price breaks record $146 a barrel

BEIJING, July 3 (Xinhua) --World crude oil prices continued to rise, breaking through the $145 per barrel level in Asia and Europe for the first timeBrent crude hit a record high of $146.34 a barrel in Londoncomes after the US government announced that oil reserves fell more than expected last week, with oil prices in London and New York both above record highsWorld oil prices have doubled in the past yearThe weak dollar, rising demand and concerns about instability in oil supplies in the Middle East and Africa are all contributing to rising world oil prices, according to the BBC and other mediaOil prices are expected to continue to rise after the European Central Bank announced a rate hikeoil prices have quadrupled since 2000It also inspired Saudi Arabia, the world's largest oil exporter, to hold a summit in June to address the oil crisisOn July 2nd The chairman of the Organization of the Petroleum Exporting Countries (OPEC) said rising interest rates in the euro zone would only weaken the dollar and lead to higher oil pricesRussian President Dmitry Medvedev expects oil prices to top $150 a barrel ahead of next week's summit of the Group of Eight industrial groupsBusinesses around the world have already suffered the consequences of high oil pricesAir New Zealand is the latest company to say it cannot continue to withstand $170 a barrel of jet fuelannounced on July 3rd that fares on New Zealand's domestic flights would be increased by 3 percent and that tickets on international routes would be increased by 5 percent, July 3 (Xinhua) -- World crude oil prices continued to rise, surpassing the $145 per barrel level in Asia and Europe for the first timeBrent crude hit a record high of $146.34 a barrel in London comes after the US government announced that oil reserves fell more than expected last week, with oil prices in London and New York both above record highs World oil prices have doubled in the past year The weak dollar, rising demand and concerns about instability in oil supplies in the Middle East and Africa are all contributing to rising world oil prices, according to the BBC and other media Oil prices are expected to continue to rise after the European Central Bank announced a rate hike oil prices have quadrupled since 2000 It also inspired Saudi Arabia, the world's largest oil exporter, to hold a summit in June to address the oil crisis On July 2nd The chairman of the Organization of the Petroleum Exporting Countries (OPEC) said rising interest rates in the euro zone would only weaken the dollar and lead to higher oil prices Russian President Dmitry Medvedev expects oil prices to top $150 a barrel ahead of next week's summit of the Group of Eight industrial groups Businesses around the world have already suffered the consequences of high oil prices Air New Zealand is the latest company to say it cannot continue to withstand $170 a barrel of jet fuel announced on July 3rd that fares on New Zealand's domestic flights would be increased by 3 percent and that tickets on international routes would be increased by 5 percent (name)