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Oil Surges Past $112 a Barrel.

WASHINGTON, Shawwal 21, 1434, Aug 28, 2013, SPA -- The price of oil rose surged past $112 a barrel Wednesday.

U.S. benchmark oil for October delivery rose $3.02, or 2.8 percent, to $112.03 a barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. Oil prices jumped $3.09 to close at $109.01 a barrel on the Nymex on Tuesday.

The last time oil closed above $112 a barrel was on May 2, 2011. Still, oil remains far below its record close of $145.29 a barrel, reached on July 3, 2008.

--SPA 11:06 LOCAL TIME 08:06 GMT

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Publication:Saudi Press Agency (SPA)
Date:Aug 29, 2013
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