Oil prices rise after hitting 69 dollars in London on Iran rumour

LONDON (AFP) – World oil prices soared on Wednesday after spiking to 69 dollars per barrel in London late on Tuesday following an unsubstantiated rumour that
Iran had attacked an American ship, traders said.

In European trading on Wednesday, the price of Brent North Sea crude for May delivery leapt 1.02 dollars to 65.62 dollars a barrel in electronic trading.


Overnight, Brent crude had surged as high as 69.00 dollars per barrel — which was last seen on September 4, 2006.

New York’s main oil futures contract, light sweet crude for delivery in May, jumped 1.10 dollars to 64.03 dollars in electronic deals on Tuesday. It peaked overnight at 64.46 dollars — last reached on September 13, 2006.

AFP