Asian oil hits $70 a barrel

Crude oil rose to $70 a barrel in Asian trading today, driven by concerns over declining petrol stocks in the US and Iran’s nuclear stand-off with the international community.

Asian oil hits $70 a barrel
Mon, 17 Apr, 2006 - 09:30

Crude oil rose to $70 a barrel in Asian trading today, driven by concerns over declining petrol stocks in the US and Iran’s nuclear stand-off with the international community.

Light, sweet crude for May delivery touched $70 a barrel in intraday trading on the New York Mercantile Exchange before slipping back to $69.95 a barrel, up 50 cents from Friday’s close.

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