Here we go again…
Mar 23rd, 2009 |
Oil prices topped $54 a barrel Monday, getting a boost from stock investors who seemed hopeful a new plan to resolve the nation’s banking crisis would spur economic growth. Better-than-expected housing news helped too.
Benchmark crude for May delivery rose $1.73 to settle at $53.80 a barrel in trading on the New York Mercantile Exchange, continuing its upward momentum. Prices climbed as high as $54.05 earlier in the session.
On Friday, oil ended the week above $50 a barrel for the first time this year, and prices have risen 33 percent this month alone.