The price kept rising for seven consecutive trading days since April 1
The OPEC daily average oil price set a new record of $103.74 per barrel Thursday, OPEC said Friday.
The price kept rising for seven consecutive trading days since April 1, soaring sharply by nearly $8 amid speculations in the international commodity market.
The expecting decrease in oil needs in the international market, due to the warming weather and the world economic slowdown, should drag down prices. However, the weak dollar aggravated the speculations and pushed oil prices to a new peak.