Oil jumps above $97 with economy in focus

Published January 29, 2013 10:07pm ET



NEW YORK (AP) — The price of oil climbed above $97 a barrel Tuesday for the first time in four months, and analysts said it could go higher if upcoming reports on jobs and U.S. economic growth are positive.

Benchmark oil for March delivery rose $1.13, or 1.2 percent, to close at $97.57 on the New York Mercantile Exchange. Oil hadn’t closed above $97 in New York since Sept. 14. It is now up more than $5 a barrel this year and U.S. drivers are finding higher prices at the gas pump.

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