Friday, July 6, 2007

Oil Rises to a 10-Month High on Signs of Growing Demand, Risks to Supply

(Bloomberg) -- Crude oil rose to a 10-month high on
signs U.S. economic growth may accelerate, spurring increased
fuel demand in the world's biggest energy consumer.

U.S. employers added 132,000 workers in June, wages grew and
the unemployment rate stayed near a six-year low, a Labor
Department report showed today. Oil output by the Organization of
Petroleum Exporting Countries was little changed last month,
according to a Bloomberg News survey, showing that the group was
ignoring calls by consuming countries to bolster production.


Read more at Bloomberg Energy News

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