Oil prices have climbed to new highs again, rising above 44 U.S. dollars a barrel in the United States on the back of global supply concerns and terrorism fears.

Light crude for September delivery rose 33 cents to settle at 44.15 dollars on the New York Mercantile Exchange Tuesday, topping the previous record, set Monday, of 43.82 dollars.

On London's International Petroleum Exchange, September Brent crude futures hit a fresh 14-year high of 40.64 dollars, up 67 cents from Monday's finish.