LONDON: Oil prices rose a dollar to a new record near $61 on Monday, driven by the resilience of world energy demand in the face of high fuel costs and worries about oil policy under Iran’s new hardline president. US crude for August delivery traded at a new high of $60.95 a barrel, up $1.11, before ending up by 61 at $60.45. US crude futures were above $60 for every delivery month to October 2006 with December 2005 scaling a peak $62.35 a barrel.
London Brent set a record $59.59 a barrel for again of $1.23 before ending up 87 cents at $59.23.
