Oil Hits $100 as US Economy Slowly Improves

Bloomberg reported that oil prices hit $100 a barrel on prospects of slow U.S. economic recovery.

As quoted in the market news:

The benchmark oil price rose by 3.2 percent Wednesday alone, ending the day at $102.59 per barrel, after a Canadian pipeline company announced it would ship crude away from a key Midwest delivery point. It was the first time since July that oil rose above the $100 mark.

Click here to read the full Bloomberg report.