SINGAPORE: Oil prices rose in Asian trade Monday to near seven-month highs,
fuelled by a rise in regional equities markets and a weakening US dollar,
dealers said.
New York's main futures contract, light sweet crude for July delivery, rose 56
cents to 66.87 dollars a barrel. Brent North Sea crude for delivery in July
advanced 54 cents to 66.06 dollars.
"Oil is heading up this morning. It's actually moving in sync with stock markets
in Asia.... What's really supporting oil is primarily investors buying
commodities as the US dollar weakens," said analysts. |
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