Crude prices rise on positive U.S. economic data

08:51, March 31, 2010      

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Crude prices inched higher on Tuesday as positive U.S. economic data boosted investor sentiment.

The Standard & Poor's/Case-Shiller 20-city home price rose unexpectedly by 0.3 percent from December to January, indicating the housing market is stabilizing as the economy expands.

The Conference Board Consumer Confidence Index rose to 52.5 in March after a plunge in the previous month. The reading was higher than analysts had expected.

Light, sweet crude for May delivery rose 20 cents to settle at 82.37 U.S. dollars per barrel in New York Mercantile Exchange. London, Brent crude gained 11 cents to settle at 81.28 dollars.

Source: Xinhua
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