Oil Climbs to Five-Week High
Crude oil prices rose more than $2 a barrel to $97.87 in electronic overnight trading on the New York Mercantile Exchange, the highest in five weeks, Bloomberg reported Tuesday.
Gasoline futures also rose following an explosion Monday that closed a Texas refinery, Bloomberg said.
Prior to that, the Lundberg Survey of filling stations, which comes out twice a month, reported that gas prices dipped 3 cents in the past two weeks, to $2.94 a gallon.
OPEC ministers, due to meet March 5, may cut production as winter heating demand wanes, Bloomberg reported.
