Oil Rises to Two-Week High Near $65 a Barrel
Oil prices rose to their highest level in almost two weeks near $65 a barrel, pushed higher by strong equity markets and signs that energy demand in China is rebounding, Bloomberg reported Monday.
Crude futures rose for a fourth day to $64.90 in pre-market New York Mercantile Exchange trading, as European and Asian stock markets gained, and refiners in China, the world’s No. 2 oil consumer, boosted output for an eighth week, Bloomberg said.
The August futures contract expires Tuesday. Oil rose 6.1% last week.
The Department of Energy comes out with its weekly diesel and gasoline pump price surveys Monday afternoon in Washington.
