Crude oil prices yesterday jumped $25 a barrel in intraday trade - the largest one-day rise in dollars terms ever - ahead of the expiry of a futures contract and amid concerns that the US currency would weaken.

The jump in oil prices to an intra-day high of $130 a barrel was exacerbated by a squeeze ahead of the expiry of the current front-month October futures contract at Nymex, which forced some financial investors to cover their positions at any price to avoid taking physical delivery.