Oil prices smashed past $135 a barrel for the first time on Thursday. New York's main oil futures contract, light sweet crude for July delivery, briefly rose to a high of $135.04 a barrel before easing to $134.59 in Asian afternoon trade, up $1.42 from its US close.
The benchmark futures contract had closed a whopping $4.10 higher at a record $133.17 on the New York Mercantile Exchange, and continued its upward spiral.
London's Brent crude contract for July was also busting records, rising to a high of $134.50 before pulling back to trade at $134.36, smashing its intraday peak of $133.34 set a day earlier.
The benchmark futures contract had closed a whopping $4.10 higher at a record $133.17 on the New York Mercantile Exchange, and continued its upward spiral.
London's Brent crude contract for July was also busting records, rising to a high of $134.50 before pulling back to trade at $134.36, smashing its intraday peak of $133.34 set a day earlier.
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