July 02, 2008	Wednesday	Jamadi-us-Sani 27, 1429

LONDON, July 1: Oil prices jumped back towards record highs on Tuesday after the president of Opec said there was uncertainty surrounding future investment in facilities to boost crude output.

The International Energy Agency (IEA) also said growth in supply would outpace demand until 2010, after which the market would likely experience supply tensions.

New York’s main oil contract, light sweet crude for August delivery, gained $1.91 to $141.91 per barrel. The contract struck a historic peak of $143.67 the previous day.

Brent North Sea oil for August jumped $2.33 to $142.16, not far from the record $143.91 hit on Monday.—AFP