Optimisim over economy raises oil prices
21 May 2009

Oil prices hit a six-month high yesterday, but receded on the back of weak economic figures issued in America.

US crude oil prices rose to a peak of $60.48 (£38.79) a barrel amid renewed hopes of a recovery in the US economy, but then dipped to $59.65 (£38.25) when weak housing data was revealed.

Oil prices have risen about 20 per cent from $50 a barrel over the last three weeks as optimism about the state of the world economy has grown.

Oil has jumped from $32 (£20) a barrel in January, but it remains well below the record high of $147 (£94.29) last July.

Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week

  • Lexus LC500
    Car review
    20 October 2017
    Futuristic Lexus LC coupé mixes the latest technology with an old-school atmospheric V8
  • Maserati Levante S GranSport
    First Drive
    20 October 2017
    Get ready to trade in your diesels: Maserati’s luxury SUV finally gets the engine it’s always needed
  • Jaguar XF Sportbrake TDV6
    First Drive
    19 October 2017
    The handsome Jaguar XF Sportbrake exhibits all the hallmarks that makes the saloon great, and with the silky smooth diesel V6 makes it a compelling choice
  • Volkswagen T-Roc TDI
    First Drive
    19 October 2017
    Volkswagen's new compact crossover has the looks, the engineering and the build quality to be a resounding success, but not with this diesel engine
  • BMW M550i
    First Drive
    19 October 2017
    The all-paw M550i is a fast, effortless mile-muncher, but there's a reason why it won't be sold in the UK