Crude oil prices surged to new highs above 123 dollars Thursday in volatile trade after the OPEC cartel insisted the market was well-supplied and being driven by speculators, not real demand.
New York's main oil futures contract, light sweet crude for June delivery, smashed its record high set Wednesday and nearly hit 124 dollars a barrel, at 123.97 dollars just after the market close.
It had ended the session at an all-time record 123.69 dollars, a gain of 16 cents from Wednesday's close.
In London, the Brent crude contract for June delivery crossed 123 dollars for the first time, a day after the New York contract first crossed that milestone.
Brent jumped to an intraday record peak of 123.27 dollars.
AFP
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