Fed's Fisher: Slower economy won't restrain oil

MIDLAND, Texas (Reuters) - A weaker U.S. economy will not be enough to restrain the sky-rocketing price of oil because of demand from emerging countries, Dallas Federal Reserve President Richard Fisher said on Tuesday.

"There still is growth in the world economy, even if we slow down," Fisher said. "It's difficult for me to see a supply response that will feed into that demand to relieve all the price pressures we see on oil."

Oil prices continue to set new records, and were currently trading above $125 a barrel.

(Reporting by Pedro Nicolaci da Costa, Editing by Chizu Nomiyama)