Oil Tops $93 a Barrel
Crude oil climbed above $93 a barrel for the first time in intraday trading Monday, after Mexico shut 20% of its production, Bloomberg reported.
State-owned Petroleos Mexicanos, the third-largest supplier of U.S. crude oil, halted about 600,000 barrels a day of output as a storm in the Gulf of Mexico closed platforms, Bloomberg said.
Oil closed at more than $90 for the first time on the New York Mercantile Exchange Thursday and Friday, setting a closing-price record of $91.86 a barrel on the Nymex Friday, Bloomberg said.
The Energy Department releases its weekly survey of diesel and gasoline retail prices Monday afternoon. Last week’s diesel pump price of $3.094 was the highest since a record $3.157 two years ago.
