Oil prices hit record high $90.07

Oil prices hit record high $90.07
Oil prices soared to another record high above 90 dollars per barrel amid global supply jitters and tensions between Turkey and crude producer Iraq, dealers said Friday.

New York’s main futures contract, light sweet crude for delivery in November, touched 90.07 dollars per barrel in early afternoon deals. That beat the previous high of 90.02 dollars set late on Thursday.

London’s Brent North Sea crude for December delivery was flat at 84.60 dollars after hitting a record 84.88 dollars on Thursday.

“Persistent geopolitical fears provide good support to oil prices,” said analyst Andrey Kryuchenkov at the Sucden brokerage in London.

This week, crude prices have blazed a record-breaking trail as Turkey has moved closer towards a military incursion into northern Iraq –