Friday, May 8, 2009

Oil price hits 5-month high on cheerier economic news

Oil price hits 5-month high on cheerier economic news

Rising optimism about the U.S. economy, the world's biggest energy user, drove the price of oil to more than $56 a barrel Wednesday for the first time this year. The price for New York's benchmark futures contract peaked at $56.07 a barrel, then later settled to $55.90 in New York trading

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