Crude Oil Prices Increased by $70 to $72.79 on Friday

Crude Oil got in position on Friday 29, Aug. This increase may be a mark of strength due to rebounding of economies, Crude Oil Price seen $ 72.74 a barrel, London Brent Advanced on $72.79 a barrel after 28 Cent increment.

Oil prices have moved dramatically this past week between $70 and $75 a barrel without clear long-term direction. "Crude futures are banging back and forth between support and resistance here. We saw a 10-month high at $75 earlier this past week, but actually the supply situation is still unchanged," said Gene McGillian, analyst at Tradition Energy in Stamford, Connecticut.