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Oil prices move closer to $55.
Byline: Sudeep Reddy
Oct. 15--Crude oil surged Thursday to another record, just shy of $55 a barrel, worrying investors and helping push the Dow Jones industrials back below 10,000.
Oil for November delivery gained $1.12 to $54.76 a barrel, the seventh gain in the last eight trading sessions on the New York Mercantile Exchange.
"It seems as though all crude oil needs to make new all-time highs is have the sun come up," said Peyton Feltus, president of Randolph Risk Management in Dallas.
On Wall Street, worries about rising oil prices came on top of a disappointing earnings report from General Motors Corp. and news of an insurance ...
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Source: HighBeam Research, Oil prices move closer to $55.