Oil prices down in Asia trade

Oil prices fell by more than 1.50 dollars in Asia on Monday after supply worries helped push prices to a record high last week.

New York's main oil contract, light sweet crude for August delivery, fell 1.65 dollars to 143.43 dollars a barrel.

The contract hit an intra-day peak of 147.27 before closing at 145.08, up 3.43 dollars on the New York Mercantile Exchange Friday.

Brent North Sea oil for August delivery fell 1.24 dollars to 143.25. On Friday Brent jumped as high as 147.50, a new intra-day record, before settling up 2.46 dollars at 144.49 in London.

Tensions between the West and Iran, along with unrest in Nigeria, have helped to support the high prices, according to dealers.

Oil prices have almost doubled over the past year and have soared since breaking through 100 dollars at the start of the year. The record prices have sparked protests around the world amid fears for economic growth.