Oil prices rise to US $71 a barrel after decline

June 2, 2006 13:11


Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief


Oil prices rose to recover some ground in Asian trading Friday after ending sharply lower in the previous session. Analysts said anxiety over Iran's nuclear ambitions continued to support crude futures. Light, sweet crude for July delivery rose 53 cents to US $70.87 a barrel in Asian electronic trading on the New York Mercantile Exchange, late afternoon in Singapore. The contract closed 95 cents lower at US $70.34. July Brent on London's ICE Futures exchange gained 17 cents to $69.56 per barrel. Gasoline futures gained 0.64 cent to US $2.1336 a gallon while heating oil prices rose 2.23 cents to US $1.993 a gallon. Natural gas prices rose fractionally to US $6.445 per 1,000 cubic feet. The previous session's pullback in oil prices was triggered by a Wednesday announcement by the US that it was ready to join talks with Iran over its disputed nuclear program on the condition that Iran first suspend enrichment activities.

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

The Teva Pharmaceutical Industries
April 30, 2015
Teva doubles down on Mylan, despite rejection