Light, sweet crude for October delivery rose to settle at US$72.36 a barrel on the New York Mercantile Exchange and October Brent crude on London's ICE Futures exchange settled at US$72.68 a barrel.
Oil prices rose on Thursday as traders decided to buy back into the energy markets after a decline led to an unexpected increase in U.S. gasoline and crude oil stockpiles. The United Nation's Aug. 31 deadline for Iran to halt its nuclear program has also been exerting a pressure on prices, as the market anticipates Iran blocking oil exports, along with the possibility of hurricanes entering the Gulf of Mexico.
25-Aug-06 
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