Fears over Iran see oil top $73 a barrel

OIL hit a new high above $73 (€58.94) per barrel (pb) yesterday on fears that Iran’s intensifying dispute with the West may hit oil supplies and after a sharp fall in US petrol stocks.

London’s Brent crude peaked yesterday at a fresh record of $73.34 (€59.22).

Rising demand, scarcity of supplies and the fear of an attack on Iran by the US is keeping markets nervous.