Crude oil prices rose above $65 a barrel Friday after the U.S. Department of Energy said energy costs this winter in the United States would be the highest in 10 years.
Light sweet crude for October delivery on the New York Mercantile Exchange rose 83 cents to $65.32 by afternoon in Europe. Nymex crude is more than $5 off its peak of $70.85 a barrel briefly reached during the day on Aug. 30, but is still almost 50 percent higher than a year ago. On London’s International Petroleum Exchange, October Brent futures gained 71 cents to $63.79 a barrel.
