LONDON AP – The price of oil, which tumbled as the global financial turmoil worsened in late 2008, has climbed back to where it was at the beginning of the crisis, thanks to a recovering U.S. and global economy and the Federal Reserve’s latest stimulus program.
Benchmark oil for December delivery was up 30 cents to $88.11 a barrel mid-afternoon Thursday in Europe after rising as high as $88.63 earlier in the session during electronic trading on the New York Mercantile Exchange. On Wednesday, crude prices added $1.09 to settle to $87.81 on Wednesday.
