Oil prices down from record peaks

Oil prices cooled Friday after rocketing to all-time highs of more than 135 dollars a barrel, as the US currency firmed and investors took profits from the record-setting rally. But analysts said the market remained on the boil and the pullback was only a breather as strong global energy demand continues to stretch tight supplies. In morning trade Asian trade, New York's main oil futures contract, light sweet crude for July delivery, rose 26 cents to 131.07 dollars per barrel. The benchmark contract closed at 130.81 dollars a barrel in New York trade on Thursday, a drop of 2.36 dollars from Wednesday's record finish of 133.17.

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