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Oil Sets Another Record, Hits $117 a Barrel
Crude oil hit $117 a barrel Friday, as the price soared to another closing price record to finish a week of all-time highs, Bloomberg reported.
Oil futures ended the trading week Friday at $116.69 a barrel on the New York Mercantile Exchange, a closing-price record, Bloomberg said. Earlier, they topped out at $117 a barrel.
Prices rose Friday on Midwest refinery concerns following an earthquake in Illinois that was felt in several states, Bloomberg said.
Gasoline futures on the Nymex closed at a record $2.9893 a gallon Friday, Bloomberg said, and gas pump prices were heading toward $3.50 a gallon in some areas, the Associated Press reported.
The Department of Energy comes out with its weekly survey of pump diesel and gasoline prices on Monday.
