Saudi move eases oil price jitters

Oil prices pulled back from record highs tonight after Saudi Arabia said it was able to pump an extra 1.3 million barrels a day.

The comments from the kingdom’s oil minister Ali Naimi eased jitters among traders as the price of a barrel of crude in New York fell from last night’s 21-year record of $45.04 (€36.80) to $44.40 (€36.60).