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Oil crosses $44-mark

LONDON, AUG 3. U.S. oil prices hit fresh record highs above $44 a barrel on Tuesday after the head of the OPEC producers' cartel said there was little the group could do to cool red-hot markets.

U.S. light crude struck $44.24 a barrel, the highest since crude futures were launched on the New York Mercantile Exchange in 1983. It was last holding firm just below $44.

London's Brent crude followed suit, scoring $40.45 a barrel.

— Reuters

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