Oil Shoots Past $105 a Barrel


2/21/2012 3:15:00 PM
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Larry Smith/Trans Pixs

Oil closed at a nine-month high over $105 a barrel on Tuesday, after finishing every trading day last week over $100, Bloomberg reported.

Crude futures rose $2.64 to as finish at $105.88 a barrel in pre-market trading on the New York Mercantile Exchange, Bloomberg said.

That was the highest Nymex closing since May 4 last year. Oil had not closed over $100 in every day of a five-day week since late April.

Oil finished last week’s trading at $103.24 a barrel. The Nymex was closed Monday for the Presidents’ Day holiday.

The Department of Energy will release its weekly survey of diesel and gasoline pump prices Tuesday afternoon in Washington, because of the holiday Monday.

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