Oil prices cross $70

VIENNA: The OPEC’s daily average crude prices have risen to $70.22 per barrel. The rise in oil prices marks the first time that OPEC oil prices have soared over $70 per barrel in 2007. OPEC’s daily average oil prices reached a record high of $72.67 per barrel last year. OPEC’s daily average oil prices reached this year’s record high of $68.64 per barrel on Monday, but they continued to increase over the following four trading days. — Xinhua

France eyes IMF post

PARIS: President Nicolas Sarkozy is considering to propose a French candidate to lead the IMF as two former Socialist finance ministers were named by a newspaper as contenders for the post. Le Monde reported that he may propose former finance minister Dominique Strauss-Kahn. — AP