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Crude futures surge above $100
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Crude futures surged above 100 US dollars a barrel Tuesday on supply concerns.


It's the first time the crude prices closed above 100 dollars.


Light, sweet crude for March delivery rose 4.51 dollars at a record 100.01 a barrel on the New York Mercantile Exchange after earlier rising to 100.10 dollars, a new trading record.


An explosion at a 67,000 barrel per day refinery in Texas, the falling dollar and the possibility that OPEC may cut production next month boosted the prices, said analysts.


Other energy futures also jumped Tuesday. March gasoline jumped 10.93 cents to settle at 2.6031 dollars a gallon, and March heating oil rose 11.45 cents to settle at 2.7614 dollars a gallon.


(Xinhua News Agency February 20, 2008)

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