Oil breaches $70 a barrel
Global demand for oil is expected to rise, helping push oil prices higher [Xinhua]
For the first time in more than three years when oil prices first took a dive, Brent crude hit $71 a barrel on Thursday on news that inventories had fallen again in the US.
US benchmark West Texas Intermediate crude futures rose to $66.53.
Oil markets have been steadily rising since Saudi Arabian-led OPEC agreed to oil production cuts with non-cartel world producers such as Russia.
