Oil price jumps back above $120 per barrel

The price of oil jumped back above 120 dollars Thursday as traders tracked geopolitical tensions between the United States and Russia, a weak dollar and a large drop in US motor fuel reserves.

Click here to read the rest of this article.

Add to: Add to Delicious del.cio.us, Add to Digg Digg, Add to Yahoo Yahoo!, Add to Google Google

Other articles in the Business news section

Oil prices drop below $50 dollars... 13 minutes ago

Oil prices sank under 50 dollars a barrel in London on Thursday, reaching the lowest levels for three and a half years, as the market was plagued by weak energy demand. ...more

Rolls-Royce plans up to 2,000 job cuts... 16 minutes ago

Rolls-Royce, the aircraft engine-maker, said Thursday it anticipated cutting between 1,500 and 2,000 jobs worldwide in 2009, or up to five percent of its global workforce. ...more

Public finances weaken ahead of pre-... 40 minutes ago

Public finances posted their first October deficit in 14 years, data showed on Thursday, just days before Chancellor Alistair Darling is expected to unveil costly measures to boost the economy. ...more

Chrysler wants to revive merger talks... 50 minutes ago

Chrysler hopes to reboot merger talks with General Motors if Congress approves a 25-billion-dollar bailout for ailing US automakers, the Financial Times reported Thursday. ...more

Peugeot cuts more jobs as Sarkozy vows... 52 minutes ago

A fresh round of job cuts at Peugeot Citroen underscored the auto sector's woes on Thursday as French President Nicolas Sarkozy vowed help for the struggling industry. ...more

Rolls-Royce plans up to 2,000 job cuts... 1 hours ago

Rolls-Royce, the British maker of aircraft engines, said Thursday it anticipated cutting between 1,500 and 2,000 jobs worldwide in 2009, or up to five percent of its global workforce. ...more