Oil Rises Above $98

- May 24th, 2011

SF Gate reports that on Tuesday, Oil inched up by $1 per barrel Tuesday after the dollar weakened.

SF Gate reports that on Tuesday, Oil inched up by $1 per barrel Tuesday after the dollar weakened.

The market news is quoted as saying:

Oil also got a boost from reports by Goldman Sachs, J.P. Morgan and Morgan Stanley that said prices will almost certainly be higher later this year. The investment banks said the recent 15 percent drop in benchmark crude was only a brief pause in what will likely be a long-term rise to near-record levels.

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