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Crude oil traded at a record printed trade of $100.10 per barrel Tuesday before closing at $100.01 on talk that OPEC will cut production when it meets March 5.
Other major fuels also rose: heating oil soared 10 cents to $2.75 per gallon, unleaded gasoline vaulted 11 cents to $2.60 per gallon and natural gas gained 30 cents to $8.96 per million BTUs.
In inflation-adjusted terms, oil hit an all-time high of $102.80 per barrel in April 1980.
'So much for the bears'
Oil has rallied more than 15% since the yearly low of $86.99 on January 23, and it's giving oil bears like independent energy trader Jim Dietz fits.
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