Oil price rising above $71
26/05/2006 - 09:00:08Brent crude oil prices have climbed above $71 (€55.40) per barrel today.
With Memorial Day approaching in the US, coupled with continuing concerns over Iran, it is predicted that traders will not want to enter the weekend short.
US data out yesterday reflected buoyant domestic growth however, contradicting reports earlier in the month that high oil prices would dampen demand.
