Transport Topics Online
The Newspaper of Trucking and Freight Transportation
Welcome  Guest  Log In         
9/14/2012 4:00:00 PM Write a Letter to the Editor Write a letter to the Editor

Oil Closes Week at Four-Month High $99 a Barrel


Frank Polich/Bloomberg News

Oil rose to a four-month high Friday, closing the trading week at $99 a barrel following the Federal Reserve’s announced plan to take additional steps to boost the U.S. economy, Bloomberg reported.

Crude futures rose 69 cents on the New York Mercantile Exchange, and the $99 closing price was the highest since May 3. Oil had earlier in the session hit $100 a barrel before receding.

 

The increase followed the Fed’s announcement Thursday and a European Central Bank bond-buying announcement announced last week, Bloomberg said.

The price also rose on concern that continuing protests in the Middle East and North Africa will disrupt supplies from those regions, Bloomberg reported.

Diesel and gasoline prices have risen for the past 10 straight weeks, after declining for three months prior to that.

The Department of Energy will release its next weekly survey of pump prices Monday afternoon in Washington.

By Transport Topics

Follow Transport Topics on Subscribe to get up to the minute news briefs and more from our feeds. RSS Twitter Twitter Facebook Facebook

© 2012, Transport Topics Publishing Group. All rights reserved.


  RELATED ARTICLES

 
LATEST NEWS



 
LATEST JOBS
Follow Us

Newsletters

TTExpress
This free daily newsletter delivers the latest headlines.

TT Executive Suite
This subscriber-only newsletter program tailors your news.

Services

Advertising




© American Trucking Associations, Inc., All Rights Reserved TTNews.com Privacy Statement