Bourse

Bourse

Oil prices almost hit one-year high

24 August 2009 08:35 (UTC +04:00)

Bakuâ€“ APA-Economics. Crude oil traded near a 10-month high after a rebound in sales of existing homes in the U.S., the worldâ€™s biggest oil-consuming nation, spurred optimism the global economy is emerging from recession.
Oil climbed alongside Asian equities after established home sales jumped more than forecast in July to the highest in almost two years, signaling the housing crisis that crippled the worldâ€™s largest economy may be easing. The dollar fell for a fifth day against the euro, bolstering the appeal of commodities.
Crude oil for October delivery rose as much as 46 cents, or 0.6 percent, to $74.35 a barrel in after-hours electronic trading on the New York Mercantile Exchange. It was at $74.10 at 12:32 p.m. in Singapore.

Brent crude oil for October settlement rose as much as 56 cents, or 0.8 percent, to $74.75 a barrel on the London-based ICE Futures Europe exchange. The contract traded at $74.65 at 12:16 p.m. in Singapore.