IMF to probe oil-price surge

The International Monetary Fund (IMF) responded to the G8's request for an investigation into the recent rise in oil prices, saying that it will carry out the work.

Dominique Strauss-Kahn, the managing director of the Fund, said that that it would look at whether financial-market speculation had influenced the price surge.

"How important it is and what kind of influence it has on the market and futures is something we have to investigate," he told reporters in Japan after the G8 finance minis