BUSINESS
August 9, 2005 | Elizabeth Douglass, Times Staff Writer
Oil prices climbed to another record and the cost of gasoline hit a fresh high in California on Monday amid strong demand, worries about the nation's fuel supplies and security threats in Saudi Arabia, the world's largest oil exporter. After reaching $64 during trading Monday, the price of U.S. benchmark crude for September delivery closed at $63.94 a barrel, up $1.63 on the New York Mercantile Exchange. That eclipsed Friday's record close of $62.31 a barrel.