The news source noted that investors quickly notched up long-term oil futures contracts, as far-off as 2016, pushing oil futures prices to over $140 per barrel, while the spot price for oil reached an all-time high of $129.60 per barrel.
Seasoned traders are of the view that such a major single-day increase has never been observed before and speculation is rife that global oil production is close to peaking, due to geopolitical and geological limitations, according to the Financial Times.
