Oil Prices Settle Above $74
Oil prices rose Tuesday as Iran dashed hopes of a breakthrough in talks with the European Union about its nuclear program.
August Brent at London‘s ICE Futures exchange rose 78 cents to settle at $73.67 per barrel.
Analysts say the main geopolitical concern affecting the market these days is the standoff between Iran and the West over its nuclear program. Some fear that Iran, the second-biggest exporter in the Organization for Petroleum Exporting Countries, may withhold oil if the dispute escalates.
The Energy Department said last week that gasoline demand over the past four weeks was around 9.5 million barrels a day, or 1.4 percent higher than a year earlier.
August Brent at London‘s ICE Futures exchange rose 78 cents to settle at $73.67 per barrel.
Analysts say the main geopolitical concern affecting the market these days is the standoff between Iran and the West over its nuclear program. Some fear that Iran, the second-biggest exporter in the Organization for Petroleum Exporting Countries, may withhold oil if the dispute escalates.
The Energy Department said last week that gasoline demand over the past four weeks was around 9.5 million barrels a day, or 1.4 percent higher than a year earlier.
posted by Ottawa Gas Prices | 8:06 PM
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