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Journalism of Courage
Oil prices rose back toward recent peaks on Monday as rising tensions in West Asia fuelled a rally driven by tight US gasoline supplies for summer driving demand. London Brent crude was up 28 cents at $33.92 a barrel near a post-Iraq war high of $34.05 hit last week. US Light crude was up 23 cents a barrel at $37.97, within 25 cents of a 13-year closing high recorded last month. ‘‘The run-up in prices over the last couple of weeks has been driven largely by events in the Middle East,’’ said analysts PFC Energy in a report. “ —(Reuters)
