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Oil price tops $70 a barrel

Driven by a weak dollar and recovering economic data, the price of oil has risen above 71 dollars a barrel.

Three factors have contributed to the price rise. First, US jobless claims hit a nine-month low, boosting the market and consumer confidence.

Second is the resurgent price of commodities. Third is the weaker US dollar. In London, the price of Brent crude also increased, settling at 69.77 dollars, up 2.57 dollars.


 Source : CCTV   Editor: Ivy
· Oil steady below $70 on mixed economic data
· Oil plummets on China's sharp equities loss
· Oil touches $75 on spreading economic optimism
· Oil jumps nearly 5% on unexpected big supply drop
· Oil rebounds above $69 as global equities gains
· OPEC weekly oil price hits new record high
· Oil prices drop below 70 dollars
· Gasoline, diesel prices likely to go up again
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