Oil Prices Rise Past $72
April 20, 2006
• by Staff
NEW YORK --- Oil prices continued to climb on Wednesday, reaching more than $72 a barrel and setting a record for the third straight day, the AP reported. That makes higher prices at the pump this summer more likely.
A government report showing that U.S. gasoline supplies had shrunk for the seventh straight week spurred a rally in oil futures. The report amplified concerns about supply disruptions in Iraq, Nigeria and the Gulf of Mexico, as well as worries about international tensions arising from Iran’s nuclear ambitions.
Originally posted on Fleet Financials