In Monday morning trading in Singapore, US light crude was trading at $55.31 a barrel, up from Friday's $55.03.
Oil prices are now 40% higher than this time a year ago.
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Oil Comes Further
Oil prices continued their rising, gaining 30 cents above $55
Oil prices continued their rising, gaining 30 cents above $55 amid the summer driving season in the US.
With US demand for crude always high in the summer months as Americans take to the road for their holidays, analysts inevitably worry about US stockpiles.
In Monday morning trading in Singapore, US light crude was trading at $55.31 a barrel, up from Friday's $55.03.
The start of hurricane season in the southern states of the US is another concern - last year numerous oil facilities were damaged.
Oil prices are now 40% higher than this time a year ago.
In Monday morning trading in Singapore, US light crude was trading at $55.31 a barrel, up from Friday's $55.03.
Oil prices are now 40% higher than this time a year ago.
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