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Oil futures top $80/bbl

03/15/2010
By Sam Fletcher
After failing to sustain pushes above $80/bbl in four previous sessions, April crude closed at $80.87/bbl Mar. 3, up $1.19 for the day in the highest closing for a front-month contract in 7 weeks in the New York market as the euro strengthened against the US dollar. The contract held above $80/bbl as energy prices fell Mar. 4, then climbed $1.29 to $81.50/bbl Mar. 5 as crude and petroleum products wiped out those losses."The oil price was driven up by improved investor confidence in global equity markets, in large part due to Greece revealing further plans to slash its public debt and an oversubscribed bond auction," said analysts at the Centre of Global Energy Studies (CGES), L...
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