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SINGAPORE - WORLD oil prices struck a fresh intraday record of US$123.87 (S$169) a barrel in Asian hours on Thursday, despite a larger-than-expected rise in US energy stocks.
The record reached by New York's main oil futures contract, light sweet crude for June delivery, just slightly exceeded the old intraday high of US$123.80 reached on Wednesday at the New York Mercantile Exchange.
The contract later traded 11 cents higher at US$123.64 a barrel in Asia from its record close of US$123.53 in New York.
Brent North Sea crude for June delivery was 24 cents higher at US$122.56 a barrel.
In London on Wednesday the contract touched an all-time peak of US$122.70, before settling US$2.01 at US$122.32.
Prices continued to rise despite a weekly survey by the US government showing that the country's crude stocks rose by 5.7 million barrels to 325.6 million barrels for the week that ended on May 2.
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