Oil surges $121 a barrel
September 23, 2008 NEW YORK (AFP) - Crude oil prices skyrocketed Monday by 16.37 dollars, the biggest one-day dollar gain on record, lifted by a declining dollar amid a proposed US financial sector bailout.
New York’s main contract, light sweet crude for October delivery, raced 16.37 dollars a barrel higher to close at 120.92 dollars.
Earlier it had soared past the 110-dollar mark for the first time since Aug 29. The contract expired at the close of trade.
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