Posted AT 4:17 PM EST on 23/03/07
Oil above $62 after Britain says sailors detained by Iranian forces
NEW YORK — Oil prices jumped above $62 (U.S.) a barrel Friday and gasoline futures continued to surge as unrest in the Middle East and Nigeria helped vault front-month crude prices to their highest level since December.
Light, sweet crude for May delivery gained 59 cents to settle at $62.28 on the New York Mercantile Exchange, after earlier climbing as high as $62.65. The rise follows a surge of more than $2 on Thursday, after U.S.
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