[Peakoil] $70 a barrell

[Jenny Goldie]

Oil price hits $US70 a barrel

April 17, 2006 - 1:34PM


Oil prices hit $US70 a barrel in Asian trade today on concerns over tight US gasoline stocks and continued fears the United States could launch military strikes against Iran's nuclear facilities, dealers said.

At 10.35am (1235 AEST), New York's main contract light, light sweet crude for May delivery, was up 66 cents at $US69.98 a barrel from its close of $US69.32 in the United States Thursday.

The contract earlier hit an intraday high of $US70 before easing slightly.

AFP

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