Oil to Top $US70: Analysts

A REFERRAL of Iran to the United Nations Security Council over its nuclear program is likely to push oil prices to record high points above $US70 a barrel, analysts in London said overnight.

The Iran crisis represents “a major source of upside risk for oil prices”, Barclays Capital analyst Kevin Norrish said.

He added: “It is not too difficult to construct a scenario in which prices will get back past $US70 in relatively short order.”
The Daily Telegraph (Australia)