Diesel alert and fears for stockpile push oil to new record

Oil prices soared to record highs yesterday as news of a fall in American gasoline stockpiles caused by strong demand from drivers spooked traders and a leading energy consultant warned that Europe faced a severe shortage of diesel within 10 years.

The price of a barrel of crude on the International Petroleum Exchange for delivery in September shot up $1.76 to $63.74 and in New York, a barrel of light crude was trading at $6430 last night, up $1.23.
Telegraph