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The Ledger - EST. 1978 - Nashville Edition

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VOL. 36 | NO. 39 | Friday, September 28, 2012

Oil posts biggest gain in 2 months, tops $91

The Associated Press

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The price of oil is rising the most in two months after tensions rose between Syria and Turkey.

Oil rose to $91.36, a jump of $3.22, or 3.7 percent, in afternoon trading on the New York Mercantile Exchange.

Thursday's rise follows a decline of 4 percent on Wednesday.

The increase came as Turkey's military fired on targets in Syria for the second day. Prices also got a boost from a falling dollar, which tends to influence investors to buy commodities like oil and gold.

The price of gasoline at the pump rose two-tenths of a cent, to $3.784 for a gallon of regular, according to AAA. That's up 38 cents from a year ago.

Brent crude, which is used to price international varieties of oil, was up $3.66, or 3.4 percent, to $111.83 in London.

Other energy futures traded in New York jumped as well:

— Natural gas rose 4 cents to $3.43 per 1,000 cubic feet.

— Heating oil advanced 10 cents, or 3.2 percent, to $3.17 per gallon.

— Wholesale gasoline rose 12 cents, or 4.2 percent, to $2.92 per gallon after reports of a fire at an Exxon Mobil Corp. refinery.