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techjunkie

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techjunkie

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Thursday, 06/28/2007 9:55:28 AM

Thursday, June 28, 2007 9:55:28 AM

Post# of 30354
Oil Briefly Hits $70 a Barrel
Thursday June 28, 9:46 am ET
Oil Futures Hit $70 a Barrel on Supply Concerns


NEW YORK (AP) -- Oil futures briefly hit $70 a barrel in New York trading Thursday for first time since Sept. 1 after a government report showed that gasoline inventories dropped unexpectedly just as the summer driving season is about to hit its peak.
Light, sweet crude for August delivery gained 96 cents to $69.93 a barrel on the New York Mercantile Exchange after rising briefly above $70. The front month contract last settled above $70 on Aug. 31
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