Wednesday, May 23, 2007

Oil near $71 at 9-mth high on Iran, gasoline fears

(Reuters) - Benchmark London Brent crude gained 20 cents at $70.80 a barrel by 0616 GMT, after hitting a fresh nine-month high of $70.90 earlier. U.S. crude traded up 14 cents at $65.91.




Prices climbed after nine U.S. warships put on a show of force off Iran's coast on Wednesday, coming at the same time as a United Nations report that said Tehran had expanded its nuclear programme.


Read more at Reuters.com Hot Stocks News

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