Singapore, 14 July (Argus) — Nymex crude futures rose in today's after-hours session on expectations of lower US crude stocks and optimism about growth in Asia's economies.
At 08:30 GMT, the front-month August US crude futures contract was at $60.59/bl, higher by 90¢/bl from its close yesterday when the contract ended 20¢/bl lower.
The Nymex August front-month heating oil futures contract in after-hours trade rose by 1.75¢/USG to $1.5213/USG. Nymex August RBOB gasoline prices rose by 1.77¢/USG to $1.6571/USG.
Oil prices firmed on the back of stronger equity markets and expectations of stronger China economic growth that will spur on the rest of Asia. China will release its second-quarter GDP data later this week.
The American Petroleum Institute will release later today its US weekly oil stocks data, which are expected to show a fall in crude inventories.
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