Crude rallies on to record high above $126 a barrel

Crude-oil futures blitzed past the $126 a barrel mark Friday, rallying to a record high of $126.20, pushed higher by weakness in the U.S. dollar and concerns over supply disruptions.
Crude oil for June delivery was last up $2.18 at $125.87 a barrel on the New York Mercantile Exchange.
The contract earlier rallied to a record high of $126.20 a barrel.
"Another rocking day," said Phil Flynn, a vice president at Alaron Trading. "There's a lot of bullish momentum right now and people are piling into oil, because it seems to be the best place to put your money."

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- Posted: 2008-05-09 09:03:45

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