Crude oil price zooms to $78/bl

Nymex crude oil price rose to within 50 cents of the record after attackers blew up pipelines in Mexico, the fourth-largest exporter of oil to the US, and OPEC ministers hinted that they may maintain output.

Crude oil for October delivery rose as much as 83 cents (1.1%) to $78.32 per barrel in after-hours electronic trading on the New York Mercantile Exchange - its seventh day of gains, according to a report on the website of Bloomberg. New York futures reached a record $78.77 per barrel on August 1.

The contract had gained 79 cents (1%) to $77.49 per barrel yesterday - the highest close since July 31.