text: Oil Hits New High Over \$48 as Iraq Violence Flares  LONDON (Reuters) - Oil prices struck a fresh record above  \$48 a barrel on Thursday, spurred higher by renewed violence in  Iraq and fresh evidence that strong demand growth in China and  India has not been slowed yet by higher energy costs.
inputs: Oil Hits New High Over \$48 as Iraq Violence Flares  LONDON (Reuters) - Oil prices struck a fresh record above  \$48 a barrel on Thursday, spurred higher by renewed violence in  Iraq and fresh evidence that strong demand growth in China and  India has not been slowed yet by higher energy costs.