Oil prices pull back from record highs
Oil prices dipped Monday from last week's record highs but held above 125 dollars on tensions in the crude-rich Middle East and ongoing supply fears in Nigeria, traders said.
New York's main oil futures contract, light sweet crude for June delivery, slid 71 cents to 125.25 dollars per barrel.
London's Brent crude contract for June delivery fell 56 cents to 124.84 dollars.
On Friday, New York crude had hit a record high 126.27 dollars and London Brent set a historic peak of 125.90 dollars.
"Oil prices were a little lower following some profit taking after crude futures hit fresh record highs at the end of last week," said Andrey Kryuchenkov, an analyst at the Sucden brokerage in London.
Comments