Oil prices inched higher Tuesday on anticipation that further positive economic news would extend a three-week rally. Vienna's JBC Energy attributed the buoyancy of oil markets to «enthusiastically absorbed earning figures of selected companies. «In the U.S., the release of second-quarter GDP estimates on Friday will be a first test to market optimism,» said JBC's newsletter Tuesday. Benchmark crude for September delivery was up 15 cents, fetching $68.53 a barrel by noon in European electronic trading on the New York Mercantile Exchange. On Monday, the contract rose 33 cents to settle at $68.38, The Associated Press reported. Oil has surged from $58.78 a barrel earlier this month as solid second-quarter company earnings bolstered investor optimism that the global economy is recovering. In other Nymex trading, gasoline and heating oil for August delivery were up slightly at $1.93 and $1.80 a gallon. Natural gas for August delivery jumped by nearly 6 cents to $3.66 per 1,000 cubic feet. In London, Brent crude prices rose 20 cents to $71.01 a barrel on the ICE Futures exchange.
