Oil Rose 16 Cents on Bernanke’s Comments on Unemployment

Bloomberg reported oil rose 16 cents after Federal Reserve Chairman Ben S. Bernanke commented on the need to lower rate of unemployment.

As quoted in the market news:

Crude oil for May delivery settled at $107.03 a barrel on the New York Mercantile Exchange. Futures dropped as low as $106.19 before the Bernanke speech in Arlington, Virginia. Prices are up 8.3 percent this year.

Click here to read the full Bloomberg report.