US oil prices have increased around $12 a barrel this year on supply concerns as investment funds plough billions of dollars into commodities.
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Crude Oil Price Rises Uncontrollably
Crude oil broke $75 mark in New York on Friday
Crude oil broke $75 mark in New York on Friday, on persistent fears that oil demand will squeeze global supplies and tension between Iran and the USA.
The light, sweet crude futures for June delivery of closed at $75.17 a barrel, after the May contract expired on Thursday at the $71.95 mark.
In London the price of Brent North Sea closed at $74.57, after hitting a record $74.79 earlier on Friday.
US oil prices have increased around $12 a barrel this year on supply concerns as investment funds plough billions of dollars into commodities.
US oil prices have increased around $12 a barrel this year on supply concerns as investment funds plough billions of dollars into commodities.
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