Crude prices top 75 U.S. dollars on positive economic data

09:00, June 11, 2010      

Email | Print | Subscribe | Comments | Forum 

Crude prices topped 75 U.S. dollars a barrel on Thursday as the euro rebounded against the dollar while positive economic data boosted sentiment.

The strong economic reports from Asia and Australia helped the euro gain against the dollar. The euro rose above 1.21 dollars in New York markets.

On Thursday, the U.S. Labor Department said jobless claims fell to 456,000 last week. Total claims fell by the largest amount in nearly a year.

China's exports and imports rose more than 48 percent each in May, reassuring investors that the country's economy was not being slowed significantly by Europe's debt problems.

The International Energy Agency on Thursday raised its forecasts for global oil demand this year, citing stronger than expected economic activity in developed economies. The report boosted its estimate by 60,000 barrels to 86.4 million barrels a day. That's a 2 percent increase from 2009.

Light, sweet crude for July delivery rose 1.10 dollars to settle at 75.48 dollars a barrel on the New York Mercantile Exchange.

In London, Brent crude gained 1.02 dollars to settle at 75.29 dollars a barrel on the ICE futures exchange. E

Source:Xinhua

(Editor:黄蓓蓓)

  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Giant red lantern lights up in Tiananmen Square to celebrate the coming National Day on Oct. 1. (Xinhua/Li Xin)
  • A ceremony is held in Taipei, southeast China's Taiwan, on Sept. 28, 2011, to commemorate the 2,562nd birthday of Confucius (551-479 BC), a Chinese thinker, educationist and philosopher. (Xinhua/Wu Ching-teng)
  • The world's first Boeing 787 Dreamliner for delivery arrives at Haneda airport in Tokyo, capital of Japan, on Sept. 28, 2011. The Boeing 787 Dreamliner, whose buyer is All Nippon Airways (ANA), will implement a flight of ANA on Oct. 26 from Tokyo's Narita Airport to Hong Kong in south China. (Xinhua/Ji Chunpeng)
  • A Libyan National Transitional Council (NTC) fighter shows what is believed to be human jawbone found inside a mass grave near Abu Salim prison in Tripoli, Libya, Spet. 27, 2011. The NTC on Sunday said they had found a mass grave containing the bodies of 1,270 people killed by Gaddafi's security forces in a 1996 massacre at Abu Salim prison in southern Tripoli. (Xinhua/Li Muzi)
  • Rescue workers and local residents search for survivors after a building collapsed in old Delhi, India, Sept. 27, 2011. At least 10 people were killed and 35 injured when an old three-storey building collapsed. More than a dozen people are still feared trapped under the debris, police said. (Xinhua/Partha Sarkar)
  • A visitor has flying experience in the windmill castle of Jinshitan National Holiday resort in Dalian, northeast China's Liaoning Province, Sept. 27, 2011. The castle is a 23-meter-high building with 21 meters in diameter. The castle uses wind tunnel to make objects floating in the air. It is the first indoor stadium in China, which enables people to have flying experience. (Xinhua/Zhang Chunlei)
Hot Forum Discussion