Oil Hits $107.9 a Barrel

Employees of Korea National Oil Corporation yesterday look at a screen showing international oil prices at an office in the southern Seoul suburb of Anyang. International oil prices shot up Monday after experts predicted that the additional cut in U.S. interest rates will cause a further depreciation of the dollar. On the New York Mercantile Exchange, West Texas Intermediate rose 2.75 dollars from Friday to close at 107.9 dollars per barrel Monday. Brent also jumped 1.78 dollars per barrel to 104.16 dollars.

scoopjyh@donga.com