MELBOURNE, Nov 23 (Reuters) - Oil prices rose in early trade on Wednesday after industry data showed U.S. crude stockpiles fell more sharply than expected last week, highlighting supply tightness ahead of a looming European Union ban and G7 price cap on Russian oil. Brent crude futures gained 25 cents, or 0.3%, to... read full story
Photo: A gas tanker truck heads down an Interstate-84 offramp and towards a gathering of gas stations in Troutdale, Ore., Thursday, July 13, 2006. Oil prices surged Thursday to a record above $78 a barrel in world markets agitated by the escalating Israel-Lebanon conflict and the threat of supply disruptions in the Middle East and beyond. The previous Nymex settlement record of $75.19 was set July 5.