Oil prices jump to near $86 a barrel

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Posted: Apr 5, 2010 8:59 AM by John Pastorek
Updated: Apr 5, 2010 9:00 AM
Source: Associated Press

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Topics: oil, oil prices, benchmark crude, Asia, investors, job market, U.S. economy, oil trading

Oil prices jumped to near $86 a barrel Monday in Asia, extending gains from last week as investors bet an improving U.S. job market will herald growing crude demand.

Global oil trading was closed for the Good Friday holiday.

Crude has jumped for $69 a barrel in early February on expectations a growing U.S. economy will eventually spark higher oil consumption.

On Friday, the U.S. Labor Department said employers added 162,000 jobs in March, the largest job gain in three years.

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