Oil scales fresh peak in London

Crude oil traded in London has hit a record high of $74.16 a barrel, the seventh consecutive day in which it has set a new price peak.

Concerns that increased demand for petrol will squeeze already stretched supplies have kept prices high, as data showed a fall in US gasoline stocks.
US-Iran tensions and Nigerian supply concerns are also driving the market.

Brent crude later eased to $74.10 while US light, sweet crude hovered near its $72.40 high of recent days.