Oil price climbs as Norwegian strike looms

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Oil price climbs as Norwegian strike looms

By The Associated Press

The price of oil climbed about 2 percent Monday as striking oil workers in Norway forced the industry to prepare for a historic shutdown in the North Sea.

On the New York Mercantile Exchange:

Crude rose $1.54 to end the day at $85.99 per barrel.

Gasoline added 4.34 cents to finish at $2.7594 per gallon.

Heating oil rose 3.91 cents to end at $2.7490 per gallon.

Natural gas rose 10.7 cents to finish at $2.883 per 1,000 cubic feet.

On the ICE Futures exchange in London:

Brent crude gained $2.13 to finish at $100.32 per barrel.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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