Oil price pushes past $52

LONDON (Reuters) – Oil prices shot back above $52 a barrel Tuesday, breaking a two-week decline from record highs as U.S. refinery problems re-ignited gasoline supply worries.

U.S. light crude climbed $1.68 to $52.05 a barrel, down from an all-time record $58.28 struck on April 4, but around $8 up from prices at the end of 2004. London’s Brent crude rose $1.80 to $52.58 a barrel.

NOTE: Exactly How long has Saudi Arabia been promising that extra 500,000 barrels per day now?