Singapore, 12 October (Argus) — Nymex WTI crude futures rose in today's after-hours trade on firmer expectations of a global economic recovery.
At 08:30 GMT the front-month Nymex November WTI crude contract was at $72.34/bl, higher by 57¢/bl from its close at the end of last week when the contract ended just 8¢/bl higher.
The Ice November Brent crude contract rose by 60¢/bl to $70.60/bl.
Nymex November heating oil rose by 1.81¢/USG to $1.8709/USG, while Nymex November RBOB gasoline rose by 1.19¢/USG to $1.7799/USG.
Oil prices were supported by expectations that equities markets will remain firm ahead of the release of US third-quarter corporate earnings.
Also underpinning the oil market is the IEA's report late last week, which revised upwards its oil demand forecast for this year and 2010 because of a more optimistic IMF outlook for global GDP growth.
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