Crude futures rose Friday after China's decision to abandon its currency peg to the U.S. dollar in a move that will likely make dollar-denominated oil prices cheaper for China, the world's second-largest consumer of crude, AP reported The renewed terror attacks on London's public transit system led to some nervousness on the markets. But the attacks were much less serious than the initial assault two weeks ago and analysts said their effects had dissipated by Friday. Light, sweet crude for September rose 41 cents by midday in Europe to US$57.54 on the New York Mercantile Exchange as bargain hunters stepped in. The September contract had dropped 89 cents Thursday to close at US$57.13 after the explosions in London raised travel concerns. In other Nymex prices, heating oil was up half a cent at US$1.5740 a gallon while gasoline was up about the same amount to US$1.6875 a gallon. On London's International Petroleum Exchange, September Brent crude futures climbed 45 cents to US$56.18 a barrel. --mor 1337 Local Time 1037 GMT
