Oil Prices Hit Highest Level Since Sept. 2008

By: Associated Press
By: Associated Press

NEW YORK (AP) -- Oil prices hit a fresh two-year intraday high after the U.S. government said the unemployment rate fell to 8.9 percent in February.
Benchmark West Texas Intermediate crude for April delivery gained $1.07 to $102.98 per barrel in New York. The price hit $103.57 per barrel earlier in electronic trading, the highest since Sept. 29, 2008.
The Labor Department said the economy added 192,000 jobs last month. More jobs means more cars in the morning commute at a time when world oil supplies are under pressure because of the crisis in Libya.
In Libya, tensions escalated further on Friday as forces loyal to Moammar Gadhafi used tear gas to repel protestors marching on Tripoli. Most of Libya's oil production has been shut down because of the crisis.

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  • by Anonymous on Mar 5, 2011 at 04:16 PM
    this is 2011 & many prices have went up in the last 3 years.So these price of gas will hurt even more than back then.I still say government could do something about it.
  • by Anonymous on Mar 5, 2011 at 12:16 PM
    does any care that could do something about this.NO.No matter what is going on in another country,the oil shipments can get through.Oil can be drilled and so on.This is holding of the low income & poor hostage in this country.We can't do a darn thing.Can't buy like needed.Gas comes first or go without.I work part time.My car gas takes over half my pay check.I still live at home but this is stupid.This is going to hurt many.
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