Oil hits record high price

LONDON, Aug 8: Oil prices hit a new record high near $64 on Monday after warnings of militant attacks in the world’s biggest oil exporter Saudi Arabia and on worries about refinery outages in the United States.

US crude was up $1.49 at $63.80 a barrel at 1025pm (PST) after peaking at $63.99. London Brent crude was up $1.49 at $62.56 a barrel after touching $62.70.

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