NEW YORK (AP) — Oil prices rose past $104 a barrel to end the week at a 29-month high, as fighting in Libya intensified and the world's largest petroleum consumer, the U.S., reported that employers added nearly 200,000 new jobs in February.
The Labor Department said Friday that the unemployment rate dropped to 8.9 percent in February. While that's positive news for the economy, the report also suggests that more people are driving to work at a time when world oil supplies are under pressure because of unrest in Libya and the Middle East.
Benchmark West Texas Intermediate crude for April delivery gained $2.51 to settle at $104.42 per barrel in New York, the highest level since …
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