Lafayette's oil patch can rest a little easier — at least this week — as oil fetched $64.19 a barrel earlier today, the highest in six months. Additionally, benchmark crude for July delivery rose 77 cents, to $64.22 a barrel, on the New York Mercantile Exchange. The uptick comes as government reports show that consumers are spending money and fewer people are requesting first-time unemployment benefits, the AP noted.

The AP also is reporting that OPEC oil ministers appear poised to let a recovering world economy lift crude prices instead of trying to bolster them by cutting production. Read that story here.

To post a comment, please log into your IND account. If you do not have an account, click the "register" button to create one. Facebook comments can be used as an alternative to creating an account at theIND.com.

Advertisement
Advertisement
Advertisement