The cost of oil futures reached a record $ 124 from May 2011 amid signs of economic recovery the USA and Germany, reports Associated Press.
April futures price for North Sea Brent crude oil mixture has reached 124.06 dollars per barrel.
The cost of WTI increased by 0.61% to 108.49 dollars per barrel.
"The oil market has become a sort of endless cycle of self, which give rise to new highs new purchases, which forces the new highs," - says the report of the energy trader and consultant Ritterbusch and Associates.
The price of oil rose from $ 96 in early February amid rising tensions over Iran's nuclear program. Some analysts expect that the economic sanctions by the United States and Europe and the response from Iran to help keep oil prices higher this year.
April futures price for North Sea Brent crude oil mixture has reached 124.06 dollars per barrel.
The cost of WTI increased by 0.61% to 108.49 dollars per barrel.
"The oil market has become a sort of endless cycle of self, which give rise to new highs new purchases, which forces the new highs," - says the report of the energy trader and consultant Ritterbusch and Associates.
The price of oil rose from $ 96 in early February amid rising tensions over Iran's nuclear program. Some analysts expect that the economic sanctions by the United States and Europe and the response from Iran to help keep oil prices higher this year.
