Oil Closes Week Over $80 a Barrel
Oil finished the trading week over $80 a barrel, closing above that level for the first time in almost two months, Bloomberg reported.
Crude futures rose $1.61 to finish the week at $81.58 a barrel on the New York Mercantile Exchange, Bloomberg said.
The more-than-$5 increase for the week was the biggest jump since February, and oil last closed over $80 on Aug. 10, according to Nymex figures.
The price rose on signs that the U.S. economy was improving and that demand was growing in China, Bloomberg reported. Oil futures have gained 15% in the past year.
Gasoline and diesel prices slipped slightly this week after rising in the previous few weeks.
The Department of Energy will release its next weekly price survey of pump prices Monday afternoon in Washington.
