crude futures climb to 74.00

Crude futures climb as high as $74 in afternoon trading

By Myra P. Saefong
Last Update: 1:54 PM ET Jul 13, 2007
SAN FRANCISCO (MarketWatch) -- The August contract for crude futures briefly touched a high of $74 a barrel on the New York Mercantile Exchange Friday afternoon. That was its highest intraday level since Sept. 5, 2006, when the contract climbed as high as $74.05. It's pulled back a bit to trade up 1.4%, or $1.05, at $73.55 a barrel. A report from International Energy Agency and strength in the U.S. stock market fueled expectations for stronger oil demand