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Oil Prices Hit Another Record High, Then Ease Slightly


Prices for oil trading in New York hit another all-time high in Friday's overnight electronic trading.

The price of oil for future delivery touched a record $73.50 a barrel before easing in later trading.

Oil prices have hit several records in recent days amid concerns that a conflict over Iran's nuclear program and continued unrest in Nigeria might cut their oil exports at a time of strong demand for oil and little spare capacity.

Analysts say the worries about oil supplies could push prices up even higher.

Some information for this report was provided by AFP, AP and Reuters.

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