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Oil rockets to $78 a barrel
- Saudi Arabia: Saturday, July 15 - 2006 at 08:11
Oil prices have remained close to record highs following Israel's attack on Lebanon, coupled with other geopolitical tensions, according to agency reports. US light sweet crude was yesterday trading at $77 a barrel, down from its earlier record of $78.4, while Brent crude was at $77.3, down from its high of $78. Analysts believe that a deepening crisis could see oil hit $80 a barrel.
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Jonathan Sheikh-Miller, Deputy EditorSaturday, July 15 - 2006 at 08:11 UAE local time (GMT+4)
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