New York's main crude oil contract shot to a record high $55.45 a barrel on Friday afternoon amid deepening concern over US stocks of winter heating fuel.
The benchmark contract, light sweet crude for delivery in December, surged 98 cents to $55.45, cracking the previous record of $55.33 set on Monday.
Investors worried over loss of production in the Gulf of Mexico. Many also worried that refineries would be pushing out heating oil, rather than petrol, to make up the shortfall.
Prices shot up earlier in the week after a US Department of Energy weekly snapshot showed US stocks of distillates - mostly diesel and heating oil - fell 1.9 million barrels to 119 million in the week to October 15. It was the fifth consecutive weekly decline.
In London Brent North Sea crude oil for December delivery increased by 61 cents to $51.33.
