Oil price vaults to record $126.20 (AFP)

Traders work in the crude oil options pit moments before the closing bell at the New York Mercantile Exchange. Oil prices have hit a record high above 126 dollars, driven by speculative interest amid concerns about tight global energy supplies.(AFP/Getty Images/Mario Tama) AFP - The price of New York crude oil soared above 126 dollars per barrel on Friday, lifted by speculative demand amid concerns about tight global energy supplies, analysts said.