Open

Coming up

Don't miss

Replay


LATEST SHOWS

INSIDE THE AMERICAS

Uruguay: freed Guantanamo detainees try to adjust to normal life

Read more

MIDDLE EAST MATTERS

Turkey: Inside the Alevi community

Read more

FOCUS

China: A tense Christmas in Wenzhou

Read more

DEBATE

Pope's Scathing Tidings: Pontiff Blasts 'Illnesses' at Vatican's Heart (part 2)

Read more

DEBATE

Pope's Scathing Tidings: Pontiff Blasts 'Illnesses' at Vatican's Heart

Read more

WEB NEWS

Gaza children draw what their future will look like

Read more

MEDIAWATCH

Catholic cardinals get coal for Christmas from Pope Francis

Read more

IN THE PAPERS

François Hollande's Christmas wish list

Read more

MEDIAWATCH

Embedded with the Islamic State Group

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)