Crude Oil Spilled Near Record Price

Here's a quick rundown of Wall Street. Oil prices soared.

By: Emily Forrester | WKRG-TV
Published: April 08, 2008

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Stocks spent most of the day in positive
territory, but closed mixed. The Dow gained 3 points, while the S&P
rose 2 and the Nasdaq lost 6 points.

Oil futures rose today as traders bet the
Federal Reserve will continue cutting interest rates. Comments from
OPEC suggesting the cartel plans no production increases also
boosted oil prices. May futures rose $2.86 to settle at $109.09 a
barrel on the Nymex, crude's highest settlement since March 18th.
Growth in consumer borrowing slowed in
February. The Federal Reserve reported Monday that consumer
borrowing rose at an annual rate of 2.4 percent in February, just
half of the January increase.