Oil Prices Still Rising

Oil prices continued higher in Asian trade today, extending overnight gains despite US data showing refineries boosted output and an increase in key seasonal gasoline (petrol) stocks, dealers said.

At 11:04 am, New York's main oil futures contract, light sweet crude for delivery in September, was up 33 cents to 76.21 dollars per barrel, from 75.88 dollars in late US trades on Wednesday after jumping 2.32 dollars.

Brent North Sea crude for September gained 13 cents to 76.45 dollars after adding 1.24 dollars in London.