Friday, July 20, 2007

Oil Is Steady, Close to 11-Month High, Amid Growing Demand in U.S., China

(Bloomberg) -- Crude oil traded near $76 a barrel in
New York, close to an 11-month high, on rising demand for fuel in
the U.S. and China.

U.S. gasoline demand rose last week to its highest in two
years, according to Department of Energy data. China's economy
expanded in the second quarter at the fastest pace in 12 years for
the period, heightening speculation Chinese demand will grow.


Read more at Bloomberg Energy News

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