Oil prices have hit another new record of $100.40 a barrel in New York, due to renewed fears about supplies.
Oil prices have jumped in the past couple of days, and had set the previous record of $100.10 just yesterday. Brent North Sea crude was down 72 cents to $97.84.
Prices have risen amid growing speculation that OPEC, which supplies about 40% of the world's oil, may cut output at its March 5 meeting in Vienna.
Analysts say OPEC is anticipating a fall in demand due to US economic slowdown and the end of the northern hemisphere winter.
