Vienna - The price for crudes produced by the Organization of the Petroleum Exporting Countries (OPEC) peaked above 104 dollars for the first time on Monday, OPEC said on Tuesday.

On Monday, one barrel (159 litres) of crude produced by OPEC members stood at 104.02 dollars, up 35 cents from the previous day.

OPEC followed international bullish trends on Monday. In New York, Nymex WTI ended Monday's trading at 111.76 dollars per barrel, the highest settlement on record, while Brent crude also posted a new high.

OPEC calculates an average basket price based on 13 brands produced by cartel members. (dpa)