•NYMEX front-month crude hit a new all-time high of $114.09/barrel Wednesday and subsequently pushed on to $114.41/b for a gain of 62 cents from Tuesday's settle, while ICE front-month Brent also posted a record high, up 8 cents at $112.16/b, as the dollar continued its downward spiral.

•The US Dollar Index dropped 63.5 points to 71.387 Wednesday, with the weak US economy the catalyst for the ongoing slide. The greenback hit a new all-time low against the euro of 1.5966 as the lack of coordinated central bank intervention continues to embolden dollar bears.

•The run-up in global crude prices continued despite expectations for a 1.5 million barrel build in US crude stocks in this week's oil data, due out at 1430 GMT. Analysts polled by Platts were also projecting a draw in gasoline stocks of 2 million barrels and a drop of 1.7 million barrels in middle distillates. A tightening in product supply/demand balances has provided the underpinning for recent gains across the petroleum complex.

Updated: April 16, 2008