Oil Hits Two-Year High Near $87 a Barrel
Oil prices are at a two-year high near $87 a barrel after jumping more than $5 last week, Bloomberg reported.
Crude futures finished the week Friday at $86.85 a barrel on the New York Mercantile Exchange, a penny higher than the year’s previous high set April 6.
It was the highest Nymex closing price since Oct 8, 2008, according Bloomberg records. Oil rose $5.42 last week.
Oil topped $87 early Monday before falling back to $86.17 in early trading Nymex, Bloomberg reported.
Diesel’s pump price was flat last week but trucking’s main fuel has trended upward with recent oil-price gains in the past two months. (Click here for previous story.)
The Department of Energy will release its weekly price survey of diesel and gasoline pump prices Monday afternoon in Washington.
