Oil takes jump over $70

[admin]

The prices of crude oil were over $70 per barrel in Asian markets.Benchmark crude for September delivery was up 73 cents to $70.18 per barrel by midday Singapore time in electronic trading on the New York Mercantile Exchange.Oil prices seesawed last week before surging Thursday and Friday as investors bet that crude demand, which has been tepid this summer, will eventually pick up as the economy improves.