There was a surge in the Oil price which rose above $75 per barrel for the first time in the year 2009.The price for the Crude oil rose 1.39% on Wednesday increasing the price by $1.03.

From Wednesday the price is set at $75.18 a Barrel after it went further high at $75.40 per Barrel. The last time the oil prices rose above $75 was one year ago when it settled at $78.63 .

The prices since may were traded between $65 and $75 a Barrel. But this Wednesday it rose above $75 for the first time this year as the dollar remained and the investors said that the global demand of energy will soon stabilize and recover.