Price of oil vaults over $52 a barrel

OIL prices vaulted over $52 a barrel yesterday, breaking a two-week slump from record highs as refinery problems continued in the United States, the world’s largest energy consumer, continued to worry investors and reignited supply worries.

US light crude climbed $1.73, or about 3% to $52.10 a barrel, down from an all-time record $58.28 struck on April 4, but about $8 up from prices at the end of 2004.

London’s Brent crude climbed $2.06 to $52.84 a barrel.