Oil prices jump to new record peak

NEW YORK – Oil prices jumped to an all-time trading high of almost $112 a barrel Monday as the tumbling U.S. dollar and plunging stock markets prompted investors to seek shelter in commodities.

Investors fled the dollar after a surprise move Sunday by the U.S. Federal Reserve to provide cash to financially squeezed Wall Street investment houses pushed the battered dollar deeper into multiyear lows against the yen.