World Oil Prices Continue to Rise

World oil prices hit a new record of $101.32 a barrel on renewed concerns over global crude supplies.

US light sweet crude for delivery in March, touched the all-time peak in electronic trading before it lapsed.

In early Thursday trade, the contract for April delivery which took over was trading at USD 99.76 a barrel, up six cents from the previous day.

Brent North Sea crude for April delivery rose three cents to USD 98.45 a barrel.