Oil prices jumped back above US$75 in Asian trade yesterday as hopes for a quick ceasefire in Lebanon faded while concerns grew at the approach of a tropical storm in the United States, dealers said.
At 0618 GMT New York’s main contract, light sweet crude for September delivery, was 51 cents higher at US$75,42 a barrel from US$74,91 in late US trades on Tuesday. The contract hit US$75,45 earlier Tuesday, its highest level since July 18.Brent North Sea crude for delivery in September was up 57 cents at US$76,46.On Tuesday it briefly touched US$76,58.Nampa-AFPThe contract hit US$75,45 earlier Tuesday, its highest level since July 18.Brent North Sea crude for delivery in September was up 57 cents at US$76,46.On Tuesday it briefly touched US$76,58.Nampa-AFP
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