Saudi arrests the latest excuse for oil price hike

first_imgNEW YORK — Oil prices pushed above $66 a barrel Friday after Saudi Arabia announced the arrests of 172 Islamic militants, some of whom planned to attack oil fields. Light, sweet crude for June delivery rose sharply after vacillating between gains and losses this morning. It settled up $1.40 at $66.46 a barrel on the New York Mercantile Exchange. Brent crude settled 76 cents higher at $68.41 a barrel on the ICE Futures exchange in London. Gasoline futures settled up 7.1 cents on the Nymex at $2.3613 after falling earlier. 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!last_img read more