Posted AT 4:06 PM EST on 30/09/08
Oil swings back above $100
NEW YORK — Oil prices swung back above $100 (U.S.) a barrel Tuesday following a precipitous plunge a day earlier, with a growing consensus among investors that the U.S. Congress will resurrect a failed financial bailout plan.
Light, sweet crude for November delivery rose $4.27 to settle at $100.64 a barrel on the New York Mercantile Exchange, after earlier rising as high as $101.40.
On Monday, prices fell $10.52 to settle at $96.
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