Oil Tops $97 a Barrel Following Holiday
Oil rose to more than $97 a barrel, its highest intraday price in a week, following the Labor Day holiday, as investors speculated that European central banks will do more to stimulate economies, Bloomberg reported.
Crude futures rose as much as 90 cents to $97.37 in pre-market New York Mercantile Exchange trading, the highest intraday price since Aug. 27, Bloomberg said.
Diesel and gasoline pump prices have risen steadily for the past two months following three months of declines.
The Department of Energy will release its weekly survey of diesel and gasoline pump prices Tuesday afternoon in Washington, a day later than usual due to the holiday Monday.
