Oil briefly hits $63.80 in New York
January 3, 2006Crude oil futures momentarily rose to $63.80 a barrel, the highest level in about two and a half months, on Tuesday, the first trading day of this year in New York, on a rapid influx of funds from speculators. On the New York Mercantile Exchange, the price of West Texas Intermediate crude for February delivery ended at $63.14 a barrel, up $2.10 from last week's close.