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Oil prices soar above $65

29 May 2009 07:20 (UTC +04:00)

Baku â€“ APA-Economics. Oil prices closed above $65 per barrel Thursday for the first time in six months as OPEC maintained crude production levels as expected and a pair of reports suggested a slightly brighter economic picture, AP reported.
Benchmark crude for July delivery added $1.63 to settle at $65.08 a barrel on the New York Mercantile Exchange.
In London, Brent prices gained $1.89 to settle at $64.39 a barrel on the ICE Futures exchange.
On Thursday, however, the Organization of Petroleum Exporting Countries stood firm on production levels. Oil prices have nearly doubled since the beginning of the year as the group uncharacteristically complied with production quotes for the most part.

In other Nymex trading, gasoline for June delivery rose 1.88 cents to settle at $1.9105 a gallon and heating oil added 3.97 cents to settle at $1.6014 a gallon. Natural gas for July delivery rose up 31.9 cents to settle at $3.957 per 1,000 cubic feet.