Oil Closes Above $131 a Barrel
Crude oil futures jumped more than $2 a barrel Wednesday to close at $131.03 a barrel, not far off the record closing price, Bloomberg reported.
The price rose on supply concerns and because of violence in Nigeria, where rebels attacked a pipeline, the Associated Press reported.
Oil closed at a record $133.17 last Wednesday, and topped out in overnight trading at $135.09 last Thursday.
The Energy Department is scheduled to release its weekly inventory figures for oil, gasoline and distillate fuels, which include diesel, on Thursday, a day later than usual because of the Memorial Day holiday this week.
