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Oil prices hit record high

Oil prices have set a record high due to the low dollar and continuing tensions in eastern Turkey.

US light crude rose to $90.07/barrel (higher then its previous record of $90.02) late on Thursday in New York.

London 's Brent is at $84.60/barrel, after hitting its own fresh all-time high of $84.88 on Thursday.

Dollar weakness, caused by fears over the strength of the US economy, has made oil an attractive investment.

The tension in eastern Turkey centres on possible military action by the Turkish army against Kurdish rebels from across the Iraqi border.

Oil producers' cartel Opec has hinted that it may boost output to help reduce prices.

Nigerian oil minister Odein Ajumogobia said Opec leaders could now meet as early as 17 November, 3 weeks ahead of their planned meeting.

Oil prices have quadrupled since 2001 due to strong demand from fast-growing economies such as China and India , allied to instability in oil-producing nations in the Middle East and Africa . The era of easy oil is over, growing demand from countries like India and China is now forcing oil firms to enter unusual territory.