24 June 2005 (RFE/RL) -- Crude oil prices have hit a record level of $60 a barrel on the U.S. market amid strong demand.
Light sweet crude for August delivery hit the $60 mark on 23 June before slipping back. It closed at $59.42.
The new high broke a record set earlier this week of $59.70 after supply concerns and security issues in Nigeria.
Traders say that problems at some U.S. refineries might have contributed to the spike.
(compiled from agency reports)