Singapore: World oil prices hit a new record of $101.32 a barrel on renewed concerns over global crude supplies, dealers said today.

New York's main oil futures contract, light sweet crude for delivery in March, touched the all-time peak in electronic trading before it lapsed.

In morning trade, the contract for April delivery which took over was trading at $99.76 a barrel, up six cents from the previous day.

Brent North Sea crude for April delivery rose three cents to $98.45 a barrel.
Source : PTI