Posted AT 4:03 PM EST on 07/05/08
Oil closes in on $124 a barrel
NEW YORK — Oil futures extended their seemingly relentless advance Wednesday, rising to a new record near $124 (U.S.) a barrel as investors looked past a U.S. government report showing increased supplies of crude and gasoline.
Light, sweet crude for June delivery hit a new record of $123.80 on the New York Mercantile Exchange before retreating slightly to settle up $1.69 at a record $123.53 a barrel.
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| Market | Change | Value |
|---|---|---|
| Data delayed 15 minutes | ||
| S&P/TSX | -20.97 | 11,579.33 |
| DJIA | -14.28 | 10,318.16 |
| S&P 500 | -3.52 | 1,091.38 |
| Nasdaq | -10.78 | 2,146.04 |
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