Oil nears $72

VIENNA, JUNE 11: Oil prices hovered near $72 a barrel Thursday as investor optimism about a global economic recovery pushed crude to fresh highs for the year. Oil has jumped from below $35 a barrel in March on expectations the worst of a severe US recession was over. Benchmark crude for July delivery rose as high as $72.18 a barrel and was up 47 cents to $71.80 by noon European time in electronic trading on the New York Mercantile Exchange.
— AP