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Oil Rises From Two-Week Low
Oil rose from a two-week low in early trading Monday on forecasts that U.S.听fuel supplies are declining, Bloomberg reported.
Crude futures increased to $105.10 a barrel on the New York Mercantile Exchange, up 40 cents from Tuesday鈥檚 closing price, Bloomberg said.
Oil had remained above the $105 mark for more than two weeks before slipping to $104.70 on Tuesday, the lowest closing price since $103.24 on Feb. 17.
On Feb. 24, crude听finished at $109.77, the highest closing price since May 2011,听according to Bloomberg Nymex figures.
