World oil prices have shot up into uncharted territory, shattering the 52 dollar-level in New York on the back of concerns over low inventories and high demand for energy.
New York's benchmark light sweet crude for delivery in November rose 92 cents to finish at 52.02 dollars a barrel on Wednesday after spiking earlier in the day at a new record of 52.15 dollars.
Brent North Sea crude surged 86 cents to close at 47.99 dollars after peaking before the close at 48.10 dollars.