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Friday, April 30, 2010

Oil extends gains in Asian trade

Posted by Unknown at 2:47 AM
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GEO 436 SINGAPORE: Oil prices extended gains in Asian trade Friday on optimism over the US economic recovery following positive jobs data along with easing global fears about Greece’’s debt crisis, analysts said. New York’’s main contract, light sweet crude for June delivery, rose 39 cents to 85.56 dollars a barrel. London’’s Brent North Sea crude for June delivery was up 28 cents to 87.18 dollars per barrel. Prices were supported by rising equity markets in Asia after a rally on Wall Street following encouraging US company results.

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