Crude oil trading in London has hit a NEW! record high today of $74.16 a barrel, the seventh consecutive day in which it has set a new price peak.
Concerns that increased demand for petrol will squeeze already stretched supplies have kept prices high, as data showed a fall in US gasoline stocks.
US - Iran tensions and Nigerian supply concerns are also driving the market.
Brent crude later eased to $74.10 while US light sweet crude hovered near its $72.40 high of recent days.
In Asian trading, prices edged up 3 cents to $72.20.
