Oil prices top $144 a barrel
Oil prices leapt above $144 a barrel in London after data revealed a drop in stockpiles of US crude. All Headlines | Day in pics | Gainers & Losers
By Agencies |
NEW YORK: Oil prices leapt above 144 dollars a barrel in London on Wednesday after data revealed a drop in stockpiles of US crude.
Brent North Sea crude oil for August delivery jumped 3.98 dollars to trade as high as 144.65 dollars a barrel.
New York's main oil futures contract, light sweet crude for August, leapt to an intraday record of 143.91 dollars just before the close of trade.
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The US Energy Information Administration said Wednesday that stockpiles of crude had fallen by 2.0 million barrels in the week to June 27.
A weak dollar also helped push prices higher, since oil is quoted in the US currency.
Amid falling inventories, OPEC secretary general Abdallah el-Badri said in an interview published Wednesday that US authorities should stop harassing the organization's member nations to pump more crude.
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