Oil's 2-day surge tests record

"NEW YORK (CNNMoney.com) -- Oil prices surged for the second straight day, rising at one point to within 41 cents of the all-time intraday record, on a dollar decline that stemmed from a weak jobs report and a forecast of $150-a-barrel oil.

At 10:46 a.m. ET, the July light crude contract was up $6.07 to $133.86 a barrel on the New York Mercantile Exchange. The contract rose as high as $134.68, testing the $135.09-a-barrel trading record set May 22.

The contract has risen more than $11 in the past two days after hitting an intraday low of $121.84 a barrel Wednesday.

The euro rallied to $1.5659 from $1.5593 late Thursday, after the Labor Department reported that the unemployment rate rose to 5.5% in May from 5% in April, the biggest monthly jump in more than two decades. The economy lost 49,000 jobs in May, marking the fifth straight month of job losses. "

Bush still hasn't done anything about rising oil prices and the tanking dollar.

	Oil's biggest day yet drags down stocks - Yahoo! News	Yahoo! News	Sat Jun 7	1
	Crude Oil Advances on Weakening Dollar, Morgan Stanley Outlook	Bloomberg.com	Fri Jun 6	1
	Crude oil price rises more than $10 to another record	The L.A. Times	Fri Jun 6	0
	Gas pushes above $4, oil falls on Paulson comments	Associated Press	Mon Jun 2	2
	Stocks finish widely mixed after Friday's sell-off	Associated Press	Tue Jun 3	0