Oil prices rise at end of volatile week
LONDON (AFP) - Oil prices rebounded yesterday from a fall provoked by fears that demand for energy could decline as strains in the US economy spread around the world, dealers said.
In London, the price of Brent North Sea crude for September delivery rose by 57 cents to 75.75 dollars per barrel in electronic trade.
New York's main futures contract, light sweet crude for delivery in September, jumped 99 cents to 75.94 dollars per barrel in electronic deals before the start of US floor trading.
"Crude oil was up ... bouncing back after (Thursday's) selloff that was triggered by concerns the US subprime mortgage crisis could spread to other markets," Sucden analyst Andrey Kryuchenkov said.
"There are concerns that petroleum demand could be impacted," he added.
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