Oil price exceeds $ 75 per barrel

Oil price exceeds $ 75 per barrel

The price of a barrel of Brent crude to be delivered in June has now passed the $ 75 barrier for the first time since the end of October on the London commodities market, and is being traded at $ 75.35 plus 78 cents close of Wednesday.

In New York, Light Sweet Crude's barrel for the same delivery date rose 19 cents to $ 66.08, the record in six months.

The oil price is being driven by US pressure to limit Iran's oil exports and the prospect of growing world demand.

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