SINGAPORE: Oil prices hit a new record high above US$125 Friday as a weaker U.S. dollar drove investments into commodities. Light, sweet crude for June delivery rose as high as US$125.10 a barrel in electronic trading on the New York Mercantile Exchange at midday before US$124.94 in Europe. On Thursday, the contract rose to a record close of US$123.69 a barrel. In London, Brent crude contracts also hit record highs before slipping and traded up US$1.13 on the day at US$123.97 a barrel on the ICE Futures exchange. Earlier Friday, Brent had reachedUS$124.25 before falling back. In other Nymex trading, June gasoline futures rose 1.72 cents to$3.1550 a gallon (3.8 liters), while heating oil futures rose 2.77cents to $3.5375 a gallon. Natural gas futures rose 4 cents toUS$11.303 per 1,000 cubic feet.