Oil prices rose to almost $62 on Friday, because of the bomb explosions in London and fears that a hurricane in the Atlantic could damage US oil rigs.
New York's light sweet crude rose to $61.90 per barrel in before easing to $60.85. Early on Thursday it had struck a record high point of $62.10 but fell by $4.08 dollars before finishing at $60.73.
In London, the price of Brent North Sea crude oil for delivery in August finished at $59.32 per barrel on Friday. It had hit a historic peak of $60.70 on Thursday.
Market volatility has been further heightened by the onset of Hurricane Dennis, the year's first Atlantic hurricane, which threatened production platforms in the US Gulf Coast.
