[Stay on top of transportation news: .]
Oil Climbs More Than $5 to Top $121 a Barrel
Oil rose more than $5 Thursday to close at $121.18 a barrel, based on renewed tensions between the United States and Russia and a slip in the U.S. dollar, the Associated Press reported.
Light, sweet crude for October delivery jumped $5.62 to settle at $121.18 a barrel on the New York Mercantile Exchange after topping $122.04 in intraday trading, the highest level since Aug. 4, AP said.
Crude prices have risen the last three days. Oil closed Monday’s at $112.87, well below the $145.18 per-barrel closing-price record set on July 14.
Diesel and gasoline retail prices have slid in the past month along with the decline in crude prices.