Leslie Turk

Oil almost $55 a barrel Monday

by Leslie Turk

Oil prices jumped about $5 to amost $55 a barrel Monday on news of the U.S. government's plan to bail out Citigroup. Light, sweet crude for January delivery rose more than 9 percent, or $4.65, to $54.58 a barrel on the New York Mercantile Exchange -- at one point hitting $55.30.

This morning, however, oil prices were down again but appear to be recovering.