Reuters: U.S. front-month crude oil futures shot up to more than $80 a barrel in post-settlement trading on Friday, a five-week high, as geopolitical worries about Iran's nuclear program and strikes at French refineries. NEW YORK, Feb 19 (Reuters) – U.S. front-month crude oil futures shot up to more than $80 a barrel in post-settlement trading on Friday, a five-week high, as geopolitical worries about Iran's nuclear program and strikes at French refineries.
Traders also cited an easing of concerns after prices had fallen overnight and earlier in the day after the U.S. Federal Reserve late on Thursday announced a discount rate increase.
On the New York Mercantile Exchange at 4:57 p.m. EST (2157 GMT), crude for March delivery CLHO was up 96 cents, or 1.21 percent, at $80.02 a barrel, the highest since prices climbed to an intraday peak of $80.36 on Jan. 14. (Reporting by Gene Ramos)
