Business News.

Oil prices slightly higher in Asian trade SINGAPORE: Crude oil prices were slightly higher in Asian trade on Wednesday despite a forecast for slower energy demand growth, analysts said. New York's main oil futures contract, light sweet crude for June delivery, rose 15 cents to 125.95 dollars per barrel. The benchmark contract jumped to a record 126.98 dollars before settling at 125.80 dollars on Tuesday at the New York Mercantile Exchange. The contract had risen 1.57 dollars at the close. Brent North Sea crude for June delivery gained 16 cents to 124.26 dollars a barrel, after closing at 124.10 dollars on Tuesday in London. Crude oil prices have more than doubled in the past year and rocketed about 25 percent since the start of 2008, when they broke the 100-dollar barrier.