Oil prices scale record heights near $144

LONDON: Oil prices hit record highs close to 144 dollars per barrel on Monday as the dollar slid and tensions simmered over Iran amid protests aimed at sky-high crude costs.

London's Brent North Sea oil scored a historic peak of $143.91 a barrel and New York light sweet crude struck an all-time high of $143.67.

After striking a fresh pinnacle, Brent North Sea oil for August delivery stood at $140.40 a barrel, a rise of nine cents from Friday's close.

New York's main oil contract, light sweet crude for August delivery, was at $141.21 a rise of one dollar exactly. On Monday, high fuel prices sparked protests among hundreds of truckers across France, blocking main highways and snarling commuter traffic around Paris.

Meanwhile, leading figures in the oil world gathered in Madrid for one of the industry's biggest events, with the search for a remedy to record crude prices again stymied by division about the causes.

AFP