Oil rose to the highest price in more than two years as cold weather in the U.S. and Europe stoked demand.
U.S crude prices for January rose as high as $90.46 a barrel, the highest since Oct. 2008, Reuters reported.
Temperatures in northwest Europe…
Light crude oil prices have been climbing in the last few days, closing the week at $88.94 per barrel on the NYMEX. If prices climb high enough, it could damage the still-weak economy by raising the costs of gasoline, jet fuel …
Oil prices rose Wednesday as reports of higher U.S. productivity and more domestic hiring combined with continuing growth in demand from China to offset the effects of lackluster economic data from other countries.
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Oil prices rose Wednesday as reports of higher U.S. productivity and more domestic hiring combined with continuing growth in demand from China to offset the effects of lackluster economic data from other countries.
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On Thursday, stocks clawed back nearly of the week’s prior losses. Lifting investors’ spirits were an easing of concerns over Irish debt, GM’s massive IPO and some surprisingly positive economic reports.
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