text: Oil Sets New Record \$47 on Iraq Threat  LONDON (Reuters) - Oil prices surged to a new high of \$47 a  barrel on Wednesday after a new threat by rebel militia against  Iraqi oil facilities and as the United States said inflation  had stayed in check despite rising energy costs.
inputs: Oil Sets New Record \$47 on Iraq Threat  LONDON (Reuters) - Oil prices surged to a new high of \$47 a  barrel on Wednesday after a new threat by rebel militia against  Iraqi oil facilities and as the United States said inflation  had stayed in check despite rising energy costs.