WGP westralian gas and power limited

oil prices surge

  1. 6,450 Posts.
    WORLD oil prices surged overnight on lingering supply concerns tied to the start of the so-called US driving season and as geopolitical tensions continued to simmer.

    Supply fears have been exacerbated by lower-than-average US gasoline supplies, but traders said US-Iran geopolitical tensions had also fuelled price gains.

    New York's main oil futures contract, light sweet crude for delivery in July, closed up a hefty $US1.13 at $US66.21 per barrel.

    In London, Brent North Sea crude for July delivery soared 1.33 dollars to settle at $US70.40 per barrel.

 
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