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Oil prices move up slightly

29 September 2009 07:30 (UTC +04:00)

Bakuâ€“ APA-Economics. Crude oil traded near $67 a barrel in New York, after rising in the past two days, on optimism fuel demand will increase amid improved prospects for an economic recovery in the U.S., the worldâ€™s biggest energy consumer, Bloomberg reported.
Oil gained yesterday after U.S. equities increased the most in five weeks. Asian stocks rose today, led by oil and technology companies, and the MSCI Asia Pacific Index climbed from a two-week low.
Crude oil for November delivery traded at $66.94 a barrel, up 10 cents, in electronic trading on the New York Mercantile Exchange at 11:07 a.m. Singapore time. Yesterday, the contract rose 82 cents, or 1.2 percent, to settle at $66.84 a barrel. Prices have gained 50 percent this year.

Brent crude oil for November settlement traded at $65.61 a barrel, up 7 cents, on the London-based ICE Futures Europe exchange at 11:08 a.m. in Singapore. Yesterday, the contract gained 43 cents, or 0.7 percent, to settle at $65.54 a barrel.