Oil hits $100 as US economy slowly improves

November 17, 2011

Oil prices hit $100 a barrel on Wednesday after a six-week surge that may drive gasoline prices higher in coming months and slow the fragile economic recovery.

For now, there a few reasons to explain why oil jumped 30 percent higher since early October.

One is promising. The U.S. economy continued to show signs of strength, meaning that the thirst for fuel may grow.

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