Oil price jumps above $126 for first time

AFP - Friday, May 9 02:31 pm

LONDON (AFP) - Oil prices hit a record high above 126 dollars on Friday, driven by speculative interest amid concerns about tight global energy supplies, analysts said.

New York's main oil futures contract, light sweet crude for June delivery, spiked as high as 126.20 dollars in mid-afternoon London trading hours.

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