The perfect storm for oil prices showed no signs of dissipating Thursday, as supply worries combined with dollar weakness pushed crude to a new record of $145.
Crude oil futures pushed up to $145.01 per barrel, from $143.57 per barrel, during early trading on the New York Mercantile Exchange. Europe's Brent crude benchmark reached $145.58 per barrel, up from $144.25 per barrel, late Wednesday.
The latest record is a sign that the balance between supply and demand is still uncomfortably tight, and will likely remain so for the rest of the year.
Wednesday's American inventory report showed a bigger drop than expected for U.S. crude stocks, which was all the more worrying given the clear decline in demand for gasoline, as higher prices take their toll.
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