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Oil surges near $76
- Thursday, July 13 - 2006 at 13:37
Oil futures shot to record highs near $76 today (Thursday) on mounting geopolitical concerns in the Middle East, according to news agencies. Israel has imposed a naval blockade on Lebanon and forced the closure of Beirut airport through missile attacks; Iran says it will not abandon its nuclear programme; a Nigerian pipeline has been damaged by a suspected explosion; and US crude stocks are lower on high demand for petrol.
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James McInerney, News EditorThursday, July 13 - 2006 at 13:37 UAE local time (GMT+4)
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