Oil Prices Again Hit $100 Per Barrel

By: Associated Press
By: Associated Press

NEW YORK (AP) -- Oil prices are climbing back around $100 per barrel after a crackdown on protesters in Bahrain increased tensions in a conflict that threatens to pull in OPEC heavyweights Saudi Arabia and Iran.
Meanwhile, Japan is expected to boost imports of fossil fuels as the third-largest economy recovers from the Sendai disaster. And the world's largest oil consumer, the U.S., reported Thursday that unemployment claims dropped to the lowest level since July 2008.
Benchmark crude added $1.91 to $99.89 per barrel on the New York Mercantile Exchange. It rose as high as $100.67 per barrel earlier in the day. Retail gasoline prices dipped for third day to $3.546 per gallon. They're still up about 42 cents per gallon since the middle of February.

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  • by Anonymous on Mar 18, 2011 at 04:42 AM
    Man is just hurting himself by these prices.Greed will destroy.There is NO shortage.I believe oil will be here way after man kind is almost gone off this earth.They want people to buy those little cars.OK.Not enough working at a decent wage.Way to many unemployed.Prices of everything going up.The poor becoming even poorer.The rich can afford to drive hat ever,big or little.Most go mid size.Farmers still have the big trucks.Semis still transport.Gee,what does that say.It says to save this country,BRING DOWN THE PRICE OF OIL &GAS!
  • by ck on Mar 17, 2011 at 08:20 AM
    Breaking news bags of wheat just hit 100 dollars a bag I hope they all can afford to eat over there.
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