Oil Closes Near $76 a Barrel

Crude oil briefly touched $76 a barrel for the first time in 11 months before closing just below that level on Thursday, the Associated Press reported.

Benchmark light sweet crude future rose 87 cents to close at $75.92 a barrel on the New York Mercantile Exchange, AP said.

Prices briefly touched $76 in a late-session rally, AP reported.

Crude closed at a record $77.03 in July 2006.