Oil price gains on rising US vehicle sales

Tools

by Laura Matovina

Story Created: Sep 5, 2012 at 4:52 AM CDT

Story Updated: Sep 5, 2012

BANGKOK (AP) -- Oil prices rose Wednesday after U.S. vehicle sales rose sharply last month, a sign that fuel consumption could be on the way up in the world's No. 1 economy.

Benchmark crude for October delivery was up 6 cents at $95.36 a barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract fell $1.17 to close at $95.30 per barrel on the Nymex on Tuesday.

Brent crude fell 18 cents to $114 on the ICE Futures exchange in London.

Poll

Did you plant your Garden Yet?

  • Yes
  • No