Reuters article

LONDON (Reuters) - Oil set new record highs above $113 a barrel on Tuesday as investors sought to hedge against a battered dollar.

U.S. crude rose $1.64 to $113.40 a barrel at 1255 GMT (8:55 a.m. EDT), after touching a record high of $113.66.

Oil is up about 18 percent from the start of the year and is averaging near $100.

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