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Oil prices spike above USD58 per barrel on hopes of economic recovery, jet fuel rising

8-May-2009

Oil prices reached USD58.57 per barrel overnight in New York - the highest level since Nov-2008 - before settling up USD0.37 at USD56.71. The gains follow Wednesday's 4.6% rally, triggered by lower than expected US inventories and increasing optimism about an economic recovery. [276 words]

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Graphs and data:

  • Daily jet fuel prices (kerosene, cents per gallon) at New York, US Gulf Coast, Los Angeles, Amsterdam, Singapore vs Crude Spot price (WTI, USD per barrel): 28-Apr-09 to 05-May-09
  • Daily jet fuel prices (kerosene, cents per gallon) at New York, US Gulf Coast, Los Angeles, Amsterdam, Singapore: 01-Dec-08 to 04-May-09
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