Source: CCTV.com

05-08-2009 11:35

Oil rose above 58 US dollars a barrel on Thursday, hitting a fresh high for 2009. That came as signs of economic improvement in the United States boosted expectations of future increases in demand for oil products.

Oil rose above 58 US dollars a barrel on Thursday, hitting  a fresh high for 2009.

US light crude for June delivery rose 2.04 cents a barrel to 58.38. That's off an earlier peak in the day of 58.57 US dollars -- oil's highest level since November 17, 2008. London Brent crude rose 1 dollar and 88 cents to just over 58 dollars. Insiders say oil has tracked a recovery in the equity markets over the past month. Standard & Poor's is up some 36 percent from March lows.

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Editor:Qin Yongjing