Crude Crunch: Oil reaches $60 mark twice


Oil prices keep hitting record highs as the cost for crude climbed to $60 US this morning for the second straight day.

Today’s $60 mark matched Thursday’s record — — the highest since the New York Mercantile Exchange began trading it in 1983, Reuters reports. Rapidly rising consumption in the U.S. threatens to strain oil supplies and refining capacity when demand peaks this winter, the news service reports.