Crude Oil rises to $74, Highest in four years

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With the declining United States crude oil inventories, the price of oil thursday hit $74 per barrel, its highest in nearly four years as Saudi Arabia moved to push for a price rise of $80 -$100 per barrel.

Reuters reported that Brent crude futures reached $74.74 per barrel yesterday, the highest since November 27, 2014 while U.S. West Texas Intermediate (WTI) crude futures were up 53 cents at $69.00. WTI had earlier hit $69.56, its highest since November 28, 2014.

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