Oil prices hit new intraday record levels Monday, reaching US$56.85 a barrel on continued skepticism about OPEC's ability to calm markets by increasing official output. Light, sweet crude for April delivery was up 13 cents on the New York Mercantile Exchange by late morning in Europe, fetching US$56.85 per barrel. On Friday, the benchmark commodity surged 32 cents to close at US$56.72 per barrel Friday.