Ding!
$70bbl is today's number.
This is wicked good news if you:
(a) sit on top of a lot of oil and gas (and you're a Russian or Central Asian ... Kommisar or whatever)
(b) sit on top of a lot of oil and gas (and you're a Gulf States ... Emir or whatever)
(c) sit on top of a lot of coal, oil and gas (and you're a North American ... Federal/Indian Lands1 oil and gas leasee2
If you don't sit on top of a lot of oil and gas, and happen to use a lot of either or both, then this probably isn't the best news you are going to find today. Have you considered WarBlogging Deux! It is entertaining and compatible with most major credit cards and confessional denominations, backwards compatible with WarBlogging Hooya! and extensible for the planned future release of WarBlogging Tres!
1 Federal Lands (450 million acres) account for about 68% of the remaining US oil and gas resource, primarily in the Western States. Source: National Energy Technology Laboratory (DOE). Oil, gas, and coal resources on Indian Lands (55 million acres) are unaccounted for.
2 Don't forget to comment on the Minerals Management Service (MMS/DOI) new proposed Indian Oil Valuation Rule. You'll want to lock down those assets at the best possible prices for the next two-plus general election cycles.