Oil Prices Up 10%

Jun 30, 2012

NEW YORK (AP) — Oil soared the by the largest single day amount in more than three years in Friday's New York trading.

West Texas Intermediate crude priced at Oklahoma's Cushing hub closed the week up nearly ten percent at $84.96 a barrel.

Gas producers like Oklahoma City-based Chesapeake Energy got some good news as natural gas rose by nearly 4 percent, to finish the week at $2.82 per thousand cubic feet. Chesapeake's stock price has been battered in the past year by the nationwide gas glut and questions about corporate governance.