New York oil soars to new record 44.40 dollars

NEW YORK, Aug 5 (AFP) - New York`s main crude oil contract price bolted to an all-time high 44.40 dollars a barrel Thursday after Russia withdrew a promise to throw a lifeline at crisis-torn oil titan Yukos.
The benchmark contract, light sweet crude for delivery in September, hit a high of 44.40 dollars, up 1.57 dollars from the previous close. It later eased a little to 44.15 dollars.
Russia`s justice ministry said it had "recalled" an earlier decision allowing Yukos to access its current accounts to keep its operations running while paying a massive tax bill.
The oil price surge more wiped out a slump of 1.32 dollars the previous day, triggered by the brief Yukos reprieve.