Bloomberg | Oil Falls Below $70 as Supply Risks Assessed Against OPEC Salvo Bloomberg Oil has climbed over the past month, with Brent in London briefly breaking past $80 a barrel, as the impending U.S. sanctions on Iran start removing barrels from markets, and shrinking American inventories and slowing production growth raise fears over ... The financial crisis crushed record oil prices but the market is still gripped by boom and bust US 'likely' has taken over as the world's top oil producer Oil nears $70 as traders assess supply shortage with OPEC salvo |