Friday, May 28, 2010

Stock markets recovery, fresh data indicating sustained economic recovery in US, lift oil prices

New York's main contract, light sweet crude for delivery in July, has lept by over 2 dollars to US$71.6, while London's Brent North Sea rose to US$71.7. After falling by over 20% in 3 weeks, oil ralliied 4%, the best one-day percentage gain since September 30.

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