Oil Price thread

Oil prices breached the $70 a barrel mark as concerns mounted over tensions between the US and Iran once more.

http://news.bbc.co.uk/1/hi/business/6684745.stm

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Oil prices have rebounded to close more than a dollar a barrel higher mark amid concerns about supplies in the US.

In New York, light sweet crude closed $1.07 higher at $65.08 while in London Brent crude rose $1.03 to $69.07.

http://news.bbc.co.uk/1/hi/business/6711525.stm

The Opec oil cartel chief reportedly warns that biofuel investment could push oil prices "through the roof".

http://news.bbc.co.uk/1/hi/business/6725407.stm

Nothing quite like cartels is there

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Oil prices have fallen by more than $2 a barrel after Cyclone Gonu in the Gulf failed to damage production and amid concerns about higher interest rates.

http://news.bbc.co.uk/1/hi/business/6736419.stm

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

Oil prices have topped $70 in the US, hitting the highest level in 10 months on fears that more crude will need to be refined to boost petrol stocks.

New York light crude rose as high as $70.09 a barrel, before slipping back to trade 82 cents higher at $69.79.

http://news.bbc.co.uk/1/hi/business/6250534.stm

Oil prices have continued their recent rally, adding almost $1 amid concerns that more crude will need to be refined to replenish US petrol stockpiles.

New York light crude added 92 cents, or 1.3%, to $70.49. In London, Brent crude climbed 95 cents, or 1.4%, to $71.47.

http://news.bbc.co.uk/1/hi/business/6254810.stm

They havn't gone up much really have they. I remember it was around $70 a year or so ago too.

[Andy]

I'm not sure why the oil industry should be surprised by the increase in demand caused by the US driving season, but they seem to be.

http://news.bbc.co.uk/1/hi/business/6271724.stm

Global oil prices have touched a 10-month high, breaking past the $73 a barrel level in the face of soaring American demand for petrol.

[Andy]

Certainly seems to be creeping up slowly.

Oil prices have surged past $76 a barrel amid growing concern that unrest in Nigeria will hit exports.

http://news.bbc.co.uk/1/hi/business/6277464.stm

Again, there always seems to be unrest in Nigeria so I don't know why this surprises anyone.