Light sweet crude settled at $48.97 up 36 cents for the day on Tuesday after dropping to $47.60 on Monday. Prices steadied today after promises to cover demand from OPEC and Saudi Arabia and expectations of U.S. inventory growth in the U.S. Dept. of Energy Report on Wednesday.
Oil Prices Bump Before Bush Meets With Saudis
Oil prices took off this morning in early trading while President Bush prepares to meet with Saudi Crown Prince Abdullah at his ranch in Crawford, Texas.