The Car and Truck Fleet and Leasing Management Magazine

Crude Oil Price Rises to $100.01 a Barrel

February 19, 2008

NEW YORK --- The price of crude oil for March delivery rose to $100.01 a barrel in New York, buoyed by expectations that OPEC will opt to cut production when it meets March 5.

Oil ministers from Algeria and Iran said last week that the Organization of Petroleum Exporting Countries may cut output as winter heating demand drops, Bloomberg reported.

In recent days, market analysts have also pointed to other reasons for the rise in oil prices, including the decline of the U.S. dollar, the quarrel between Venezuela and Exxon, and fears of new supply disruptions in Nigeria.

On Feb. 19, crude oil for March delivery rose $4.51 to settle at $100.01 a barrel at 2:55 p.m. on the New York Mercantile Exchange. Futures reached $100.10 --- the highest intraday price since trading began in 1983.



Twitter Facebook Google+


Please note that comments may be moderated. 
Leave this field empty:

Fleet Incentives

Determine the actual cost of owning and running a vehicle in your fleet. Compare vehicles by class and model.

Sponsored by

DUI or Driving Under the Influence (sometimes called DWI or Driving While Intoxicated) is a criminal offense in most states (most countries, actually). The substance can be alcohol or drugs, which is why it's not merely called "drunk driving" anymore.

Read more

Fuel Saving Strategies Survey

View our 2008 survey to benchmark your fleet's fuel and green strategies with other fleets.

Fuel Calculator

A managed fuel program can help you save time and money and gain control over the way you fuel your vehicles. Determine your potential savings by using our fuel calculator.
Launch Fuel Calculator 

Fuel Prices

U.S. Gasoline and Diesel Fuel Prices.

Launch Fuel Prices 

Up Next

More From The World's Largest Fleet Publisher