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U.S. crude futures jump more than $2, above $126

NEW YORK
Fri May 9, 2008 2:02pm EDT

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Oil prices hit the gas

Fri, May 9 2008
Flames rise from an oil refinery in Cairo, May 6, 2008. REUTERS/Nasser Nuri

NEW YORK (Reuters) - U.S. crude futures jumped more than $2 to a record high above $126 on Friday, fueled by fund buying and surging distillate prices on both sides of the Atlantic, according to traders.

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On the New York Mercantile Exchange at 9:24 a.m. EDT, June crude was up $2.18, or 1.76 percent, at $125.86 a barrel, trading from $124.08 to a record $126.20.

(Reporting by Robert Gibbons)
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