Singapore, 24 August (Argus) — Nymex crude futures rose above $74/bl in today's after-hours session, amid optimism about an economic revival.
At 08:30 GMT, the front-month October US crude futures contract was at $74.09/bl, higher by 20¢/bl from its close at the end of last week when the contract ended 98¢/bl higher.
The Nymex September front-month heating oil futures contract in after-hours trade rose by 0.26¢/USG to $1.9075/USG. Nymex September RBOB gasoline rose by 1.22¢/USG to $2.0078/USG.
Oil prices rose in line with stronger equities markets, as better than expected US home sales for July fuelled a positive outlook about the world's largest economy. US Federal Reserve chairman Ben Bernanke has said that prospects for a return to economic growth in the US seemed good.
Send comments to feedback@argusmedia.com
naa/rjd
