Oil trades above $51 as stock rallies boost hopes
Benchmark crude for April delivery surged $3.26 to $51.40 a barrel by midday in Europe on the New York Mercantile Exchange, trading at levels last seen in December, when oil was falling from stellar prices near $150 a barrel.
Thursday, March 19, 2009
Oil Prices Spike upwards by $3.26 - that's a lot
Oil is up despite signs that U.S. crude supplies are rising.