OMAHA, Nebraska (Reuters) - Michael Phelps roared to another world record, Aaron Peirsol equaled one and Dara Torres had a swim for the ages as the U.S. Olympic trials produced plenty of Independence Day fireworks on Friday.

Michael Phelps swims to win the Men's 200m Individual Medley setting a new world record time of 1:54.80 at the U.S. Olympic Swimming Trials in Omaha, Nebraska, July 4, 2008. REUTERS/Jeff Haynes

Phelps, who has targeted Mark Spitz’s record of seven gold medals in a single Games in Beijing, added the 200 individual medley to his Olympic program in spectacular style, storming home in a world record one minute, 54.80 seconds.

Chased to the wall by good friend and rival Ryan Lochte, Phelps shaved 0.18 seconds of his old mark of 1:54.98 set at last year’s world championships in Melbourne.

It was the seventh world record to fall at the trials and the second by Phelps, who bettered his own record in the 400 individual medley on Sunday.

“I was just trying to win the race,” Phelps told reporters. “I knew Ryan, even though he had just swum the 200 meter back 30 minutes before, was going to be tough.

“Both of us hate to lose. Getting in the water with him, that last three or four races it has taken a world record to win.”

Olympic champion Aaron Peirsol completed the backstroke double, touching first in the 200 but needed a world record-equaling 1:54.32 to hold off Lochte in the most thrilling race of the night.

Lochte, who had set the record in Melbourne last year, was just 0.02 behind.

EMOTIONAL WIN

Torres’ victory in the 100 freestyle was the most emotional, the near capacity crowd of over 14,000 at the Qwest Centre leaping to their feet when the 41-year-old mother touched first to qualify for her fifth Olympic Games.

Torres, who won the first of her nine Olympic medals at the in Los Angeles in 1984, before Phelps was even born, becomes the oldest female swimmer to compete at a Games.

“I can’t believe it, I made the Olympics team,” said Torres, who was cheered on by her husband and one-year-old daughter Tessa in the stands. “I’m going to Beijing.”

In the night’s only other final, Rebecca Soni, won the 200 breaststroke booking her ticket to Beijing with a time of 2:22.60, the second best time in the world this year.

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Swimming pinup Amanda Beard, who took time off from the sport to pursue a modeling career after winning the 200 gold in Athens, secured a spot on her fourth Olympic team with a runner-up finish.

“Not a lot of people expected me to make this team,” said Beard. “I knew I could but I knew it was a long shot.”

After seven days and two world records, Phelps has just one more swim, the 100 butterfly on Saturday, to complete his busy Beijing program of eight events.

Just 20 minutes after breaking the 200 individual medley world record, Phelps was back on the blocks for the semi-finals of the 100 butterfly and clocked the fastest time of 51.10.

World champion Ben Wildman-Tobriner enters Saturday’s 50 freestyle final fastest after a best time of 21.65 in the semis.

(Editing by Martin Petty)