Oil prices at highest level in nearly 18 months

NEW YORK (CNNMoney.com) — Oil prices rose on Tuesday as investors continued to pour money into crude with the hope that global demand will strengthen.

What prices are doing: Crude prices inched 25 cents higher to $86.87 a barrel. Prices are up over 5% since last week and over 70% since April 2009. That’s their highest level since Oct. 8, 2008, when crude settled at $88.95.

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