LONDON, April 18: Oil prices hit a record $72.20 a barrel on Tuesday as Iran defied world pressure to halt its nuclear programme, raising new fears of a cut in supplies from the world’s fourth biggest crude exporter.
In London, North Sea Brent crude oil jumped 74 cents to set the new all-time high as Iran and the West exchanged increasingly sharp words over the Islamic Republic’s nuclear issue.
US crude oil climbed to $70.88, smashing through its previous record of $70.85.
