Oil Closes Above $100 a Barrel



Click Here!


 Updated:
3/18/2011 8:30:00 AM

Crude oil closed above $100 Thursday after staying below that price for two days, Bloomberg reported.

Oil rose $3.44 from the day before to settle at $101.42 a barrel on the New York Mercantile Exchange, the highest close in a week and the largest daily gain since Feb. 23.

It saw a jump in trading Thursday after the United States said it could back foreign intervention against Muammar Qaddafi, the leader of Libya, Africa’s third-largest oil producer, Bloomberg said.

Oil had fallen in price to a two-week low in the middle of the week, due in part to a report showing that inventories had risen the week before.

Click Here!




© 2010, Transport Topics Publishing Group. All rights reserved.

RELATED ARTICLES

OTHER NEWS BRIEFS

Click Here!

JOIN OUR NEWSLETTER
I agree to have my personal information transfered to MailChimp ( more information )
Join over 3.000 visitors who are receiving our newsletter and learn how to optimize your blog for search engines, find free traffic, and monetize your website.
We hate spam. Your email address will not be sold or shared with anyone else.