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Oil prices climb above $74
BANGKOK Published in Saudi Press Agency on 24 - 08 - 2009

Oil prices climbed above $74 a barrel Monday in Asia amid spreading optimism about a global
economic recovery, The Associated Press reported.
Expectations that demand for energy will grow were spurred
by Federal Reserve Chairman Ben Bernanke who said Friday
that the U.S. economy is reviving.
Benchmark crude for October delivery rose 22 cents to
$74.11 a barrel by midafternoon Singapore time in
electronic trading on the New York Mercantile Exchange. On
Friday, it jumped 98 cents to settle at $73.89.
In other Nymex trading, gasoline for September delivery
added 2.43 cents to $2.0199 a gallon and heating oil for
September delivery added 1.28 cents to $1.9177 a gallon.
Natural gas for September delivery fell 2.9 cents to $2.775
per 1,000 cubic feat after tumbling another 14.1 Friday.
In London, Brent prices rose 29 cents to $74.50 a barrel
on the ICE Futures exchange.

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