« High court: Stiffer penalties apply to breath-test refusals | Main | Oil jumps above $140 on OPEC, Libya comments »

Oil jumps on OPEC, Libya comments

NEW YORK -- Oil futures shot up to nearly $139 a barrel Thursday after OPEC's president said oil prices could rise well above $150 a barrel this year and Libya said it may cut oil production, according to the Associated Press.

Light, sweet crude for August delivery rose as high as $138.95 a barrel shortly after the New York Mercantile Exchange opened before retreating some to trade up $3.59 at $138.14.

Posted by Peter C. T. Elsworth  at 12:48 PM to Crude oil market | Permalink

Comments

Post a comment

Please be civil. Vicious comments, personal attacks and profanity won't be published.

Name:

Email Address:

URL:
Remember Me? YesNo

Comments: (you may use HTML tags for style)