Oil Surges $1.54 to Settle at $85.99 a Barrel

Business Week reported that oil surged $1.54 to settle at $85.99 a barrel when a labor strike threatened to stop all offshore oil and gas production in Norway.

As quoted in the market news:

Oil for August delivery rose $1.54 to settle at $85.99 a barrel on the New York Mercantile Exchange.

Click here to read the full Business Week report.