Oil extended the record-breaking run on Monday that has seen prices hitting new highs in the past six sessions, before profit-taking dragged crude lower.

Nymex June West Texas Intermediate yesterday fell 62 cents to $125.34 a barrel after hitting a record at $126.40, while ICE June Brent lost $1.40 cents at $124.00 a barrel after hitting a peak of $125.90 on Friday.