Oil prices leapt to a fresh record high today with London prices crossing $US144 a barrel as the US dollar weakened and data revealed a drop in stockpiles of US crude. Brent North Sea crude oil for August delivery surged as high as $US144.65 a barrel before settling at $US144.26, up $US3.59. New York's main oil futures contract, light sweet crude for August, pushed to an intraday record of $US143.91 before closing at $US143.57, up $US2.60. In after-hours trade, New York crude swung as high as $US144.15 per barrel. The US Energy Information Administration said today that stockpiles of crude had fallen by 2.0 million barrels in the week to June 27, accelerating the gains in the futures market. A weak dollar also helped push prices higher, since oil is quoted in the US currency. The dollar was down against most currencies,...
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