The relentless rally in oil prices hit new milestones on Wednesday as Brent soared beyond $113 a barrel for the first time in nearly eight years on deepening concerns about Russia’s oil supply. Brent, the world benchmark, jumped 5.4% in recent trading to $110.20 a barrel. At one point it hit $113.02 -- up nearly 8% on the day and the highest intraday level since June 2014.
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