Oil price dips below $70

17 May 2010

Oil prices dipped below $70 a barrel today for the first time since February. Crude oil for June delivery traded at $71.76 a barrel, up 15 cents, in electronic trading on the New York Mercantile Exchange as of 12:10 p.m. London time after falling to $69.82 earlier today, the lowest price for a near-month contract since Feb. 5, according to Bloomberg. The June contract expires on May 20.

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