Oil posts biggest gain in 2 months, tops $91

Friday, September 28, 2012, Vol. 36, No. 39
The Associated Press

The price of oil is rising the most in two months after tensions rose between Syria and Turkey.

Oil rose to $91.36, a jump of $3.22, or 3.7 percent, in afternoon trading on the New York Mercantile Exchange.

Thursday's rise follows a decline of 4 percent on Wednesday.

The increase came as Turkey's military fired on targets in Syria for the second day. Prices also got a boost from a falling dollar, which tends to influence investors to buy commodities like oil and gold.

The price of gasoline at the pump rose two-tenths of a cent, to $3.784 for a gallon of regular, according to AAA. That's up 38 cents from a year ago.

Brent crude, which is used to price international varieties of oil, was up $3.66, or 3.4 percent, to $111.83 in London.

Other energy futures traded in New York jumped as well:

— Natural gas rose 4 cents to $3.43 per 1,000 cubic feet.

— Heating oil advanced 10 cents, or 3.2 percent, to $3.17 per gallon.

— Wholesale gasoline rose 12 cents, or 4.2 percent, to $2.92 per gallon after reports of a fire at an Exxon Mobil Corp. refinery.