Updated at: 1116 PST, Wednesday, June 10, 2009 SINGAPORE: Oil raced towards $71 a barrel on Wednesday, after settling above $70 for the first time in seven months on a larger-than-expected fall in crude oil stocks and a forecast that falling oil demand may have bottomed. U.S. light crude for July delivery rose 84 cents to$70.85 a barrel by 0203 GMT, off an earlier high of $70.94 after ending Tuesday at $70.01, the first settlement above $70 in seven months. London Brent crude gained 55 cents .... Full Story
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