World oil prices leaped back Thursday, after hitting a fabulous record above 112 dollars per barrel when the market was lifted by tumbling US energy reserves and weakness of the dollar.
New York's main oil contract, light sweet crude for delivery in May, climbed to 111.86 dollars, up 99 cents. The contract had soared to a record 112.21 dollars on Wednesday.
On Thursday, London's Brent North Sea crude for delivery in May leapt 1.18 dollars to 109.65 dollars per barrel, after earlier striking an historic 109.98.
Crude futures had picked up more than three dollars on Wednesday after the US Department of Energy, DoE, informed that American energy stockpiles fell across the board during the week ending April 4.
US crude reserves eased by 3.2 million barrels and gasoline or petrol inventories shed 3.4 million barrels, the DoE said. Both falls were higher than market expectations.
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Oil Prices: Make It Sweet
World oil prices leaped back Thursday, after hitting a fabulous record above 112 dollars per barrel when the market was lifted by tumbling US energy reserves and weakness of the dollar.