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Oil hits new record above $126 a barrel

PUBLISHED ON: May 9, 2008 | Duration: 1 min, 07 sec

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Oil prices hit a record high above $126 dollars on Friday, driven into uncharted territory 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 per barrel in London trading hours.London's Brent crude contract hit an all-time high of $125.90.
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