Singapore, 13 August (Argus) — Nymex crude futures extended yesterday's price gains in today's after-hours session amid a positive outlook about future oil demand.
At 08:30 GMT, the front-month September US crude futures contract was at $70.76/bl, higher by 60¢/bl from its close yesterday when the contract ended 71¢/bl higher.
The Nymex September front-month heating oil futures contract in after-hours trade rose by 1.71¢/USG to $1.9092/USG. Nymex September RBOB gasoline rose by 1.57¢/USG to $2.0410/USG.
Oil prices rose despite a larger than expected increase in US crude stocks. Oil markets are being supported by stronger equities markets and as the IEA boosted its oil demand outlook for this year and 2010.
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