Oil Tops $74 a Barrel
Oil rose above $74 Tuesday for the first time in two months, as the dollar declined against world currencies, Bloomberg reported.
Crude futures gained almost $1 to $74.14 a barrel on the New York Mercantile Exchange, after closing at $73.27 Monday.
OPEC, which produces about 40% of the world’s output, predicts global consumption will increase by 700,000 barrels a day to 84.93 million bbd by next year.
The U.S. Energy Department will come out with its weekly diesel and gasoline pump price survey on Monday afternoon.
