Oil tops $140 as Fed decision sinks dollar

By Myra P. Saefong & Polya Lesova, MarketWatch

SAN FRANCISCO (MarketWatch) -- Crude-oil futures climbed to unprecedented levels Thursday, as weakness in the U.S. dollar, influenced by the U.S. Federal Reserve's decision to stand pat on interest rates, sent prices to a peak above $140 a barrel.

Comments from OPEC's president warning of higher oil prices because of the dollar's decline as well as reports that Libya threatened to cut crude output, helped bolster energy prices.
Crude oil for August delivery reached a high of $140.39 a barrel in electronic trading on Globex as of 3 p.m. Eastern.
The contract closed at a record $139.64 on the New York Mercantile Exchange, up $5.09, or 3.8%, for the session after trading as high as $140.

Oil tops $140 as Fed decision sinks dollar....