The Car and Truck Fleet and Leasing Management Magazine

Oil Price Rises to $101.92

March 24, 2008

NEW YORK --- With the U.S. dollar gaining strength against the euro, oil futures traded in a narrow range Monday, the Associated Press reported.

Light, sweet crude for May delivery rose 8 cents to $101.92 a barrel on the New York Mercantile Exchange. In London, May Brent crude rose 50 cents to $100.88 barrel on the ICE Futures exchange, AP reported. On Monday, prices alternated between gains and losses.

Oil prices dipped last week, partly triggered by concerns that Bear Stearns' bailout was a sign of major economic troubles. But those concerns were offset somewhat Monday by reports that JPMorgan Chase & Co. may raise its offer for Bear Stearns Cos. to $10 a share from $2. Also, reports surfaced that China's crude imports jumped 18 percent last month.

At the same time, trading today reflected the strengthening of the U.S. dollar. Investors often turn to commodities such as oil and gold as a hedge against inflation and a falling dollar. Also, a weaker dollar makes oil less expensive and more attractive to overseas investors. But that effect reverses when the dollar regains its strength like it did Monday, AP reported. 

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.


Fleet Tracking And Telematics

Todd Ewing from Verizon Connect will answer your questions and challenges

View All


Fleet Management And Leasing

Jack Firriolo from Merchants will answer your questions and challenges

View All


Fuel Management

Bernie Kanavagh from WEX will answer your questions and challenges

View All


Sponsored by

Subrogation is the process by which an insurance company attempts to recover expenses for a claim it paid out when another party should have paid for part of the claim.

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