Oil Prices Settle At Record High, $70 Per Barrel...

Associated Press:

Oil prices settled at a record high above $70 a barrel on Monday, rising more than $1 on concerns about supply disruptions in Nigeria and diplomatic tensions between the West and
Iran over Tehran's nuclear ambitions.

So long as these geopolitical issues are hovering over the market, analysts said it will be difficult for prices to fall too far -- unless there is a significant drop-off in demand, which they aren't yet seeing.

Read the whole story: Associated Press