Crude Oil Price at $73

4 February 2010 (Last Updated February 4th, 2010 18:30)

Oil prices recovered to above $73 a barrel today after recording the biggest decline since July last year. For March delivery, US crude increased by 34¢ to $73.48 a barrel at 7:19am GMT, while London ICE Brent rose by 15¢ to $72.28 a barrel, reports Reuters. The dol

Oil prices recovered to above $73 a barrel today after recording the biggest decline since July last year.

For March delivery, US crude increased by 34¢ to $73.48 a barrel at 7:19am GMT, while London ICE Brent rose by 15¢ to $72.28 a barrel, reports Reuters.

The dollar index reached its highest value in seven months because of increasing apprehensions over fiscal problems in south European nations.

Oil prices are still 50% less than July 2008's record price of $147 a barrel and have fallen by $11 since 11 January when prices reached $84 a barrel.