COPY-Crude moves above 72 dollars - WSFA.com Montgomery Alabama news.

COPY-Crude moves above 72 dollars

LONDON Oil prices are higher this morning, topping 72 dollars a barrel.

Market players are watching for a reading on demand as Americans enter the peak summer driving period. Memorial Day marks the traditional start of the summer driving season.

Light, sweet crude for July delivery rose 93 cents to 72 dollars, 30 cents a barrel in electronic trading on the New York Mercantile Exchange at midday in Europe.

There's speculation that gasoline demand could rise in the U-S as Americans are more likely to take domestic vacations due to a weakening dollar and rising airline ticket prices.

Traders also are watching the upcoming start of the hurricane season, which is expected to be active. Hurricanes last year caused heavy damage to key oil infrastructure in the Gulf of Mexico.

Triple-A says the national average for unleaded gasoline stands at two dollars, 85 cents a gallon.

The statewide average, according to Triple-A Alabama, is two-67 a gallon for regular; midgrade fuels hovers at almost two-86; and premium two dollars, 94 cents a gallon.

Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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