The Hard Times Cafe

Oil reaches $142 on view dollar will keep falling

"NEW YORK (AP) -- Oil futures climbed briefly to a new record above $142 a barrel Friday on expectations that the weakening dollar, a major factor in crude's stratospheric rise, will extend its decline and add to oil's appeal.

Retail gas prices inched lower overnight, but are likely to resume their own trek into record territory now that oil futures have broken out of the trading range where they had been for nearly 3 weeks."

Link to article in its entirety below

http://biz.yahoo.com/ap/080627/oil_prices.html?.v=7