Oil prices ease slightly despite fears over Hurricane Emily

OIL prices eased slightly yesterday having hit almost $62 on Friday, because of the bomb explosions in London and fears that a hurricane in the Atlantic could damage US oil rigs.

New York’s light sweet crude rose to $61.90 per barrel before easing to $60.85. Early on Thursday it had struck a record high point of $62.10 but fell by $4.08 dollars before finishing at $60.73.

In London, the price of Brent North Sea crude oil for delivery in August finished at $59.32 per barrel on Friday. It had hit a historic peak of $60.70 on Thursday.