Friday, July 20, 2007

Crude Oil Trades Near 11-Month High on Growing Demand From U.S. and China

(Bloomberg) -- Crude oil traded near $76 a barrel in
New York, close to an 11-month high yesterday, on rising fuel
demand in the U.S. and China.

U.S. gasoline demand rose last week to its highest in two
years, according to Department of Energy data. China's economy grew
in the second quarter at the fastest pace in 12 years for the
period, heightening speculation Chinese demand for fuel will climb.


Read more at Bloomberg Energy News

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