Crude gains 4% to settle at $ 70.93/bbl

2009 September 16

by Srinivas

Crude jumps back above $ 70 per barrel. The contract settled just below the $ 71 per barrel mark. But prices came off those highs after the American Petroleum Institute reported crude stockpiles rose an unexpected 631,000 barrels. A US government report today may show inventories declined. Crude is off its highs in Asia on the expectation of decline in US inventories.

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Crude gains 4% to settle at $ 70.93/bbl

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