Thursday, July 3, 2008
SINGAPORE: Oil surged past 145 dollars per barrel for the first time Thursday as the weak US dollar and Middle East tension stoked black gold's record-breaking run, analysts said.
Brent North Sea crude for August delivery hit 145.11 dollars in early Asian trade, before easing back to 144.90 dollars. It had settled at a record 144.26 in London on Wednesday after breaking 144 dollars for the first time.
New York's benchmark contract, light sweet crude for August delivery, hit an intra-day record price of 144.44 dollars. By late morning the contract was 70 cents higher at 144.27 against a record close of 143.57 in the US on Wednesday.
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