OPEC Decision Raises the Price of Crude Oil

KPBS | By KPBS Public Broadcasting

Published September 10, 2008 at 5:15 AM PDT

This story was published more than 16 years ago.

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The price of crude oil dropped below $104 for the first time since April, but that didn't last too long. Prices are back up this morning as news broke OPEC would decrease output. We're joined on Morn

OPEC Decision Raises the Price of Crude Oil

Crude oil prices fell another three-dollars yesterday on the New York Mercantile Exchange, but prices are back up this morning as news broke OPEC would decrease output.

Yesterday, the price of crude oil dropped below $104 for the first time since April, but that didn't last too long. Why are prices back up?

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We're joined on Morning Edition by Phil Flynn , a Senior Market Analyst at Alaron Trading in Chicago, and a Fox Business News contributor.