Oil prices rise above $72 a barrel

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Posted: May 27, 2010 7:37 AM by John Pastorek
Updated: May 27, 2010 8:00 AM
Source: Associated Press

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Topics: oil, oil prices, benchmark crude, Asia, electronic trading, New York Mercantile Exchange, investors, debt crisis

Oil prices rose above $72 a barrel Thursday in Asia.

Benchmark crude for July delivery was recently up 85 cents to $72.36 a barrel in electronic trading on the New York Mercantile Exchange.

The price added $2.76 to settle at $71.51 Wednesday.

Oil has dropped from $87.15 a barrel earlier this month amid investor concern about Europe's debt crisis.

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