World oil prices stayed close to record highs after London Brent crude rocketed as high as $80.49 a barrel on storm concerns in the Gulf of Mexico.
Prices in London and New York spiked by more than $2.50 yesterday as stormy weather in the oil-producing Gulf of Mexico region sparked concerns about global crude supplies.
This morning in London, Brent gained 11 cents to $80.14 after hitting the historic peak in earlier Asian trade. New York's main contract added 12 cents to $83, having earlier hit $83.38 - not far off its record of $84.10 set last week.
Tropical storm Lorenzo strengthened into a hurricane and slammed ashore early today along one of Mexico's oil producing regions, the US National Hurricane Center said.
