Brent crude at record high close

Brent crude has hit yet another all-time end of trading high, as oil prices were again lifted by continuing global economic concerns.

As Friday trading in London was concluded, Brent settled up 55 cents to finish the week at $108.75 a barrel.

It had however touched $109.17 earlier in the day, and hit $109.98 during trading on Thursday before falling back slightly each time.

Investors see oil as a haven purchase in times of economic uncertainty.

Amid signs that the continuing turmoil in global credit markets is sending the US into recession, both Brent and US light crude - the main US oil classification - have hit numerous fresh record highs in recent months.

US light crude finished Friday trading up three cents to $110.14.

It hit a record $112.21 on Wednesday.

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