Oil Finishes at Three-Month High Near $94 a Barrel
Oil rose 72 cents on Thursday, finishing the trading day at a three-month high of $93.82 a barrel following a report of stronger economic growth in China, Bloomberg News reported.
China’s customs agency reported that country’s overseas sales jumped 14.1% in December, topping analysts’ 5% median forecast, Bloomberg reported.
Also on Thursday, the European Central Bank reported that Europe would see a “gradual recovery” this year, which also help lift the price, Bloomberg said.
Crude futures have finished over $93 for five straight trading days on the New York Mercantile Exchange. Thursday’s closing price was the highest since $95.29 on Sept. 18.
Diesel pump prices have declined for six straight weeks, but several of those slides were less than a penny per gallon. Gasoline prices have gained 4.5 cents in the past three weeks.
