Oil prices tipped beyond $70 a barrel in London, fuelling fears over supply. The prices were reacting to earlier US data showing disappointing inventories.

Brent crude rose $1.02 higher to $70.96 after breaching $71 a barrel. New York sweet crude was $1.39 up at $67.65.

http://news.bbc.co.uk/1/hi/business/6755077.stm