Oil prices again reached record highs after official figures revealed a drop in US gasoline supplies
Oil prices again reached record highs after the US officials reported a drop in US gasoline supplies.
US light crude futures jumped to $72.40 a barrel, before settling at $72.17 a barrel on the New York Mercantile Exchange.
London traded Brent crude settled up $1.22 to $73.73 a barrel, jumping earlier to a record $74.
Fears over US stocks added to pressure on prices, recently fuelled by US-Iran tensions and Nigerian supply concerns.