Oil Rises To $87 A Barrel

Oil prices rose to their highest level since October 2008, hovering around $87 a barrel.  Prices are up 8.3% since March. With a steady economic recovery and weaker dollar, commodities are on the rise.

OPEC feels comfortable with oil prices between $70 and $80 a barrel. There are no immediate plans to increase production so prices are likely to hover around $80 or higher.

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Tags: Oil

This entry was posted on April 6, 2010 at April 6, 2010 and is filed under Commodities. You can follow any responses to this entry through the RSS 2.0 feed.