Oil Surges Over $82 a Barrel


 UPDATED:
10/6/2011 4:00:00 PM
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Frank Polich/Bloomberg News

Oil rose almost $3 Thursday to finish the trading day over $80 a barrel for the first time in a week and capping the biggest two-day rally since February, Bloomberg reported.

Crude futures rose $2.91 to finish the New York Mercantile Exchange trading day at $82.59 a barrel, following a $4 jump on Wednesday.

Futures had closed below $80 every day since last Thursday, Bloomberg figures showed.

The price rose in part after European Union officials announced plans to stimulate economic growth, Bloomberg reported.

DOE reported Monday that diesel and gasoline prices fell for a fourth straight week, to near $3.75 and $3.43 per gallon, respectively.

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