Crude oil price rises

The price of a barrel of crude oil has reached another record high in both Britain and the United States.



US light crude added $0.16 to settle at $123.69 in New York trading yesterday, but in after-hours trade hit $124.61 a barrel.



In London, Brent crude settled $0.52 up at $122.84 a barrel, a settlement record.



Concerns over supply, forecasts of higher world energy demand and the weak value of the dollar have all been factors pushing up oil prices.



Earlier this week, a report said the price of crude oil could reach $200 a barrel in as little as six months, as supplies tighten.