Oil Prices Hit Year’s High

Oil prices reached their highest level this year Friday as rising equity markets fueled speculation that the world economy is improving, Bloomberg reported.

Crude oil for October delivery hit $74.48 per barrel on the New York Stock Exchange, $1.57 over Thursday’s close.

That price is 2.15% more than Thursday’s closing price and the highest price for a contract nearest to expiration since Oct. 21, Bloomberg said.