Oil & Gas
Published: May 20, 2008, 19:42
US light crude’s June contract, which expires later on Tuesday, rose to an all-time high of $129.58 a barrel and by 10:41 a.m. EDT was trading was $2.20 higher at $129.25.
London Brent crude was up $2.49 at $127.55.
ICE gas oil futures rallied more than 2.5 percent to a record of $1,238.75 a tonne.
The market drew fresh impetus after Pickens said he expected oil prices to reach $150 a barrel this year.
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