In Tuesday's trading, U.S. crude settled up $1.48 at $87.61 a barrel, pulling back from the earlier record high of $88.20. London Brent crude oil rose $1.41 to $84.16 a barrel.

The White House is now expressing concern over rising oil prices.....

White House Press Secretary Dana Perino stated on Tuesday.....

"There is no doubt that energy prices are too high. They disproportionately hurt low-income families that have to spend so much of their money on energy",........"We watch it closely, we're very concerned."