TribLIVE

| Business


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Oil prices continue to climb

Email Newsletters

Click here to sign up for one of our email newsletters.

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

By The Associated Press
Saturday, July 6, 2013, 12:01 a.m.
 

The price of oil marched higher Friday with a positive report on hiring and ongoing concerns about the crisis in Egypt.

Benchmark crude for August delivery rose $1.98, or 2 percent, to finish at $103.22 per barrel on the New York Mercantile Exchange. That's the highest closing price since May 2, 2012.

Egypt is not an oil-producer, but its control of the Suez Canal, one of the world's busiest shipping lanes, gives it a crucial role in maintaining global energy supplies. For now, supplies are moving freely through the canal.

At the pump, the national average for a gallon of gas stayed at $3.48 for the third straight day. That's down 14 cents from a month ago and 14 cents higher than a year ago.

Subscribe today! Click here for our subscription offers.

 

 


Show commenting policy

Most-Read Business Headlines

  1. Pittsburgh’s tech startup activity rates last of 40 metro areas in report
  2. After years of downsizing, big houses make comeback
  3. New J.C. Penney CEO comes from middle-income America
  4. Floating homes offer ‘affordable’ option in San Francisco area
  5. Importance stressed of securing your online banking
  6. Corporate America speaking out on social issues, getting results
  7. Pope’s South American homecoming to spotlight poor, environment
  8. McDonald’s localizes menus to battle growing competition
  9. How to land that 1st job after college
  10. Truffle dogs sniff out pungent fungus prized by foodies
  11. Pending home sales in U.S. climb to 9-year high