Oil Prices Raise Sharply On Improving U.S. Economy

Transcript

RENEE MONTAGNE, HOST:

NPR's business news starts with oil prices hovering around $99 a barrel. Oil has gone up sharply since last month, partly because of signs of improvement in the U.S. economy. Also because of tensions in some oil producing regions, which could affect supplies. Still, the debt crisis in Europe is holding prices below that psychologically important $100 a barrel mark. Benchmark crude was trading in Asia this morning at about $98.90. Transcript provided by NPR, Copyright National Public Radio.