Thursday May 8
Oil prices steady in Asian trading after record near $124
Oil prices held steady Thursday in Asia after jumping to a record near $124 a barrel as investors captivated by the market's upward momentum seemed to ignore figures showing an increase in U.S. crude and gasoline supplies.
Analysts attributed oil's rise to continued buying from the surge that pushed prices past $120 for the first time earlier this week. The fact that prices didn't decline sharply after the weekly U.S. inventory report signaled to some investors that the market was ripe for another rally. Read more
Posted by The Associated Press
Full Story: The Associated Press
Complete Coverage: 12 stories
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