Oil breaches $95 a barrel
Oil prices scaled record highs of more than $95 a barrel in Asian trade on Thursday after the Federal Reserve lowered interest rates.
By Agencies |
SINGAPORE: Oil prices scaled record highs of more than $95 a barrel in Asian trade on Thursday after the Federal Reserve lowered interest rates and following news of a surprise decline in US crude stocks.
New York's main futures contract, light sweet crude for delivery in December, was trading at $95.35 a barrel, up 82 cents from its close of $94.53 a barrel in US trades, and smashing Wednesday's record of $94.74.
The New York contract earlier surged to an all-time intraday summit of $95.80.
Brent North Sea crude for December delivery also erased the previous day's intraday high of $90.94 to trade at $91.07, up 44 cents.
New York's main futures contract, light sweet crude for delivery in December, was trading at $95.35 a barrel, up 82 cents from its close of $94.53 a barrel in US trades, and smashing Wednesday's record of $94.74.
The New York contract earlier surged to an all-time intraday summit of $95.80.
Brent North Sea crude for December delivery also erased the previous day's intraday high of $90.94 to trade at $91.07, up 44 cents.
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