Crude oil prices went on a record-setting surge today as fears of a new Middle East conflict were fanned by comments from a top Israeli official about Iran.New York's main oil futures contract, light sweet crude for July delivery, leapt $US10.75 a barrel - its biggest one-day jump ever - to close at a record $US138.54.
In intraday trade and in record time, the benchmark contract crossed 137, 138 and 139 dollars for the first time and soared to an all-time high of $US139.12.
In London, Brent North Sea crude for July similarly smashed barriers on its way to a new intraday high of $US138.12 a barrel. It eased back to settle at a record $US137.69, up $US10.15. More >>>
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