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…
Global oil demand growth is expected to increase a little this year but slip in 2011 as fuel stockpiles surge and concern persists that economic growth could falter, the International Energy Agency said on Friday.
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The stock is trading at $60 a share — about where it was during the March 2009 market low. Even as oil has rebounded to $74 from $40 at that time, ExxonMobil languishes. That could soon change.
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