Oil Hits $60 For Second Straight Day

25 June 2005 (RFE/RL) -- The price of oil hit the $60-per-barrel mark for a second straight day yesterday

Analysts said this was due to continuing strong demand by the United States and growing demand from China.

U.S. light sweet crude closed 42 cents up at a new high of $59.84.

Oil prices have increased almost 40 percent since the start of this year.

(compiled from agency reports)