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SINGAPORE : World oil traded below 126 dollars on Monday after an inflow of investment funds helped push the price to another record high, analysts said.
New York's main oil futures contract, light sweet crude for June delivery, was 31 cents lower at 125.65 dollars a barrel.
The contract closed on Friday at 125.96 dollars after spiking to a record 126.25 dollars in intraday trading at the New York Mercantile Exchange.
Brent North Sea crude for June was 30 cents lower at 125.10 dollars a barrel after briefly hitting an all-time peak of 125.90 dollars in London on Friday.
Sucden analyst Michael Davies said there was "keen interest in the oil market by the (investment) funds, which are currently being attracted by oil's rapid price appreciation this year.
"This probably explains the move higher over the last few days," he said.
World oil prices crashed through records every day last week and have rocketed 25 percent since the start of 2008.
- AFP/vm
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