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Oil Hits $100 a Barrel
Crude oil hit $100 per barrel Wednesday in trading on the New York Mercantile Exchange, Bloomberg reported.
Oil for April delivery climbed $4.58 over Tuesday’s close to hit $100 for the first time since October 2008 as political unrest in Libya threatened to halt oil exports there, Bloomberg said.
The price retreated slightly after hitting $100 at 1:07 p.m.
Retail diesel and gasoline both increased in price this week, the Department of Energy said in a report Tuesday. It was the 12th straight weekly gain for diesel and the third for gas.
