Oil closes above $70 on gasoline concerns and global tensions


Oil closes above $70 on gasoline concerns and global tensions

Filed under: International markets, Industry, Consumer experience, Exxon Mobil (XOM), Russia, Middle East, Scandals, Chevron Corp (CVX), Politics, OilWe have been expecting to see this for a few days now, and today oil was finally able to close the session above the psychological $70 mark at $70.55, gaining $0.98 on the session. Earlier in the day prices were able to trade as high as $71.06 before settling down a bit to head into the weekend.Today's close above $70 marks the first time in almost a year that prices have been at this level, with the last time oil was above $70 being back in August '06. The primary reasons behind the move today were more of the same that we have seen lately... concerns over gasoline surprises and ...

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