The American embassy in Riyadh and consulates in Jeddah and Dhahran will be closed Monday because of a ``threat'' against US government buildings, which was not explained further on the embassy's Web site.

Gasoline futures also touched a record as refinery problems heightened speculation that rising fuel demand may outpace inventories. ``We're worried about a disruption to supplies,'' said Don Morton, senior vice president of energy trading at Advest in Portsmouth, New Hampshire. ``There's a moment of weakness here with the Saudi changing-of-the-guard. This could present itself as an opportunity to challenge the Saudi political structure.''

Oil for September delivery surged US$1.49, or 2.4 percent, to US$63.80 a barrel in morning trade on the New York Mercantile Exchange.

The futures earlier touched US$63.90 a barrel, the highest intraday price since the contract debuted in 1983, and surpassing the previous record of US$62.50 on August 3.

Adjusted for inflation, oil was still more expensive during the 1970s. Prices rose in 1974 after an oil embargo that followed the Arab-Israeli war and from 1979 through 1981 after Iran cut oil exports. The average cost of oil used by US refiners was US$35.24 a barrel in 1981, according to the US Energy Department, or US$75.44 in today's dollars.

In London, September Brent crude-oil futures gained US$1.47, or 2.4 percent, to US$62.54 a barrel on the International Petroleum Exchange. Futures touched an all-time high of US$62.70 a barrel, exceeding the previous record of US$61.26 a barrel on August 3. Brent trading began in 1988.

Natural-gas futures rose to a nine-month high in New York as hot weather pushed demand for the fuel that's used to generate electricity and run air conditioners. BLOOMBERG