Oil tops buck-six mark
NEW YORK — The price of crude oil continued its persistent push upward on Monday as violence in Libya escalated.
As of this morning, the price of a barrel of crude oil on the New York Mercantile Exchange hit a new 30-month high, climbing above $106 a barrel.
Oil prices rose nearly 7 percent over the last week.
The latest price hike is mainly a result of embattled Libyan leader Moammar Gadhafi stepping-up attacks on rebels and protestors over the weekend.
Libya is one of the largest oil producers in Africa. Ongoing fighting could continue to disrupt production and put pressure on global supply.
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