World Oil Prices Rise on U.S. Economic Growth

May 28, 2010
The prices of oil on world commodity exchanges was growing Friday morning on news China plans to make significant investments in Europe and investors' optimism over increased demand for crude as the U.S. economy gets back on its feet.
The price of a July futures contract for WTI light sweet crude in electronic trading on Nymex was up 34 cents to $74.90 a barrel by 7:05 Moscow time. The price of a July futures contract for North Sea Brent blend has risen 18 cents to $74.84 in London.
Oil prices climbed the day before on positive data from the US on economic growth and rising stock markets. July WTI contracts were up $3.04 to $74.55 a barrel, while July Brent contracts were up $ 2.92 to $74.66.
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