Oil price touches record high - closes at $54.76
New Delhi: The price of global crude oil has yet again risen to record highs in New York, driven up by official data showing a decline in key heating oil stocks.

A barrel of US light crude jumped $1.12 to end trading at $54.76, after briefly going as high as $54.88. In London Brent, crude rose 79 cents to finish the day at $50.84 a barrel.

Oil prices are up 60 per cent this year fuelled by strong demand and supply concerns.
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