Oil Rises Above $85 a Barrel
Oil rose in early trading Monday, topping $85 a barrel following Spain’s request for a bailout to support its banks, Bloomberg reported.
Crude futures had risen a dollar to $85.10 per barrel on the New York Mercantile Exchange at 8:47 a.m. Eastern time.
Oil finished last week’s Nymex trading at $84.10 following two straight declines from the June 6 closing price of $85.02.
On June 1, oil closed at $83.23, the lowest closing price since October.
