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.


WILX.com is happy to provide a forum for commenting and discussion. Please respect and abide by the house rules:

Keep it clean, keep it civil, keep it truthful, stay on topic, be responsible, share your knowledge, and please suggest removal of comments that violate these standards.

powered by Disqus
WILX 500 American Road Lansing, MI 48911 517-393-0110
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 117400538 - wilx.com/a?a=117400538