Monday, April 16, 2007

Oil rises back above $64, OPEC sees ample supply

(Reuters) - Oil rose back above $64 a barrel on Monday after OPEC spurned calls for members to pump more crude and said supply looked sufficient despite concerns over low U.S. gasoline stocks.

U.S. crude for May delivery rose 48 cents to $64.11 a barrel by 1055 GMT after slipping 22 cents on Friday. London Brent crude, which hit a 2007 high on Friday, stood 48 cents higher at $69.11.


Read more at Reuters Africa

No comments: