Oil prices zoom to USD 107 per barrel

Thebullishtrens: Oil prices recorded new high today as it reaches to $ 107 per barrel as the dollor remaind weak against other currencies and investors are treating that investment in Crude is a better choice. Analysts are expecting that Fed Reserve will cut the interest rate which makes the downward pressure on dollor rate. Oil prices rose more than $ 20 d0llor per barrel in this month weak dollor and increasing the funds flow into the oil market have been pushing the oil prices higher since one month. Analysts believe that speculative investing attracted by the weak dollor is the primary reason oil has risen so far so fast in recent months.