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Oil climbs above $62 on China's strong growth
(Xinhua)
Updated: 2009-07-17 07:25 NEW YORK: Oil prices climbed above $62 on Thursday as investors found some hope from China's strong economic performance and better US employment data. Earlier in the day, China, the second largest energy consumer, reported a strong economic growth of 7.9 percent for the second quarter, giving the market some hope for a sooner pickup in the global oil demand.
Light, sweet crude for August delivery rose 48 cents to settle at 62.02 dollars a barrel on the New York Mercantile Exchange. London Brent crude for August delivery fell 34 cents to 62.75 dollars a barrel on the ICE Futures exchange. |
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