Accessibility links

World Oil Prices Hit Another Record Above $53 a Barrel - 2004-10-08


Crude oil prices hit new record highs in Friday's trading.

In New York, crude oil for future delivery hit an all-time high of $53.25 a barrel. London's Brent crude oil also set a new record during the day.

The Bloomberg financial news service says prices rose after rough weather in the Gulf of Mexico forced temporary closure of a key facility that unloads about 10 percent of U.S. petroleum imports.

The disruption comes at a time of tight supplies of crude oil and strong demand as companies try to build stocks of heating oil for winter in the northern hemisphere.

XS
SM
MD
LG