•Front-month April ICE Brent futures hit $103/barrel at 11:17 GMT Friday, setting a new record-high trade as market players viewed further weakness in the US dollar and a small sell-off as another incentive to enter the crude market, brokers said. "We saw a little bit of profit taking earlier on and I think people have sought to buy the dip once again, which has coincided with yet further weakness in the US dollar," a London-based broker said.

•The euro hit further highs against the greenback, moving up to $1.5434 before steadying over the $1.54 level. The US Dollar Index weakened further to around 72.70 points.

•Traders will be looking ahead to Friday's US employment report as another guide to price direction. "The well-planned scenario for today is for a weak US employment number, a further fall in the dollar and further gains in oil," Petromatrix wrote in a report.

Updated: March 7, 2008