BANGKOK (AP) — The price of oil continued to climb Thursday, a day after its biggest gain in five months, as recent glum data from the U.S. and Germany boosted expectations of central bank action to shore up the global economic recovery.
Benchmark oil for June delivery was up 26 cents to $91.69 at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. Oil had its biggest daily gain since December on Wednesday, as speculation grew that the European Central Bank will cut interest rates next week. The contract jumped $2.25, or 2.5 percent, to finish at $91.43.
Attorneys general in four Northeastern states announced they would petition the Nuclear Regulatory Commission for a new review of regulations governing nuclear waste storage, The Associated Press reports.
A panel of infrastructure experts in New Jersey criticized Gov. Chris Christie for remarks that suggested there was no evidence of a link between climate change and Hurricane Sandy, E&E Publishing reports.