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Oil Prices Back Above $90 a Barrel

Oil prices rose Friday following the lead of higher stock prices in Europe as traders bought crude contracts ahead of the holiday weekend in the United States, according to the Associated Press.

Light, sweet crude for February delivery was up 68 cents to $90.81 a barrel in electronic trading on the New York Mercantile Exchange by midafternoon in Europe. It had fallen below $90 in earlier trading on worries that weakness in the U.S. economy could curb demand for oil.

Posted by Peter C. T. Elsworth  at 9:55 AM to Crude oil market | Permalink

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