| GEO Business|
| Oil rises above 72 dollars in Asia|
| Updated at: 1426 PST, Tuesday, June 30, 2009|
SINGAPORE: Oil prices rose above 72 dollars in Asian trade Tuesday as tensions in Nigeria, a key African crude producer, rattled investor sentiment, analysts said.
New York's main contract, light sweet crude for August delivery, put on 1.08 dollars to 72.57 dollars.Brent North Sea crude for August delivery leaped 1.21 dollars to 72.20.
Oil prices have steadily gained ground in recent weeks on hopes of a global economic recovery and persistent weakness in the US dollar which makes dollar-priced crude cheaper for holders of foreign currencies.