Oil hits record, hike fails to stem rally

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Posted: Saturday, May 17, 2008 at 1025 hrs IST
Updated: Saturday, May 17, 2008 at 1153 hrs IST

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New York, May 17:: demand for middle distillates for electric generators.

Chinese demand for imported diesel is expected to rise even further in June after this week's deadly earthquake disrupted gas supplies to major cities and as companies built stockpiles ahead of the summer Olympics.

Weakness in the U.S. dollar encouraged oil's gains Friday, analysts said....

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Oil hits record, hike fails to stem rally

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