Oil rises further
Afp, London
Oil prices extended gains on Thursday as the market focused on renewed supply concerns in the United States, the world's biggest consumer of energy, traders said. In London, Brent North Sea crude for August delivery climbed 12 cents to 70.65 dollars per barrel in electronic deals. New York's main oil futures contract, light sweet crude for delivery in August, rose 25 cents to 69.22 dollars per barrel in electronic trading before the official open of the US market. "Crude futures were a little firmer today, still underpinned by a surprise decline in US gasoline inventories last week," Sucden analyst Michael Davies said in London.
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