Oil prices rose by more than a dollar per barrel on Thursday on the approach of the Independence Day holiday on July 4. This is traditionally a busy period for U.S. drivers, and is expected to be so this year too, as July 4 falls on a Tuesday, resulting in a four day weekend.
Brent crude futures on the ICE Futures exchange in London mounted to US$72.88 a barrel. Light sweet crude for August delivery climbed to US$73.52 a barrel on the New York Mercantile Exchange, gasoline futures surged 8.89 cents to US$2.2948 a gallon. It was the highest settlement price for front-month gasoline futures since Sept. 29, when the closing price was $2.37 shortly after Hurricane Rita put several Gulf Coast refineries out of commission.
30-Jun-06 
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