SINGAPORE - Oil prices held steady below $70 a barrel Friday in Asia after jumping above that mark in the previous session the first time in ten months.
Light, sweet crude for August delivery rose six cents to $69.63 a barrel in Asian electronic trading on the New York Mercantile Exchange, midmorning in Singapore.
The contract settled 60 cents higher at $69.57 a barrel Thursday in the U.S. after rising as high as $70.52 and trading above $70 for several hours.
Thursday's jump was driven by concerns over summer supplies following the release of a weekly U.S. government report that showed gasoline inventories dropped unexpectedly as the driving season neared its …
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