Don't miss

Replay


LATEST SHOWS

TALKING EUROPE

Lithuanian president: 'Greek govt is not willing to take responsibility'

Read more

FOCUS

Violence and chaos await migrants in Libya

Read more

DOWN TO EARTH

Environmental migrants: The neglected refugees

Read more

BUSINESS DAILY

'Greece will get a worse deal now than before the referendum'

Read more

THE WORLD THIS WEEK

Tunisia attack: UK ponders air strikes in Syria (part 2)

Read more

IN THE PAPERS

French press reacts to Greek 'No' vote

Read more

IN THE PAPERS

Greek 'No' is 'a vote against austerity'

Read more

THE WORLD THIS WEEK

Greece's choice: Europe holds its breath over Sunday's referendum (part 1)

Read more

EYE ON AFRICA

Burundi presidential election: With incumbent Nkurunziza on the campaign trail

Read more

Crude oil strikes record high price

Latest update : 2008-05-09

Crude oil struck a new record high price during trading in Asian hours on Friday. New York's main oil futures contract reached a record of 124.70 dollars a barrel.

Crude oil struck a new record high price during trading in Asian hours on Friday.

New York's main oil futures contract, light sweet crude for June delivery, reached a record of 124.70 dollars a barrel and was later trading 86 cents higher at 124.55 dollars a barrel.

The benchmark contract closed at a record 123.69 dollars on Thursday at the New York Mercantile Exchange and then soared in after-hours deals to the previous all-time high of 124.57 dollars.

Brent North Sea crude for June delivery was 85 cents higher at 123.69 dollars a barrel.

In London on Thursday the contract crossed 123 dollars for the first time and jumped to a new intraday peak of 123.87 dollars before settling at a record 122.84 dollars.

Oil prices have smashed one record after another in recent days, driven by a variety of factors including an influx of investor funds, analysts say.

Date created : 2008-05-09

COMMENT(S)