Oil Rises From Two Week Low

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Oil rose from its lowest level in two weeks Sept. 11, on speculation that a U.S. attack on Syria may threaten Middle Eastern oil exports even after President Barack Obama decided to delay military strikes, Bloomberg News reported.

Oil rose 61 cents to $108 a barrel in early electronic trading on the New York Mercantile Exchange after dropping 1.9% to $107.39 Sept. 10, the lowest close since Sept. 4.

The Department of Energy said Sept. 10, diesel fuel will average $3.96 a gallon this year, below its current pump price.

Diesel held at $3.981 a gallon this week, matching last week’s five-month high, while gasoline slipped 2.1 cents to $3.587.

 The flat diesel reading followed a cumulative gain of 8.5 cents in three straight increases, including last week’s 6.8-cent jump.

By Transport Topics

Article Source:Transport Topics