Oil extends rise after bank chief vows to save euro
BANGKOK (AP) — Oil extended gains Friday in Asia after the European Central Bank chief promised to do what it takes to keep the euro currency union intact and China stepped up stimulus efforts to counter its slowdown.
Benchmark crude for September delivery was up 31 cents at $89.70 a barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract rose 42 cents to settle at $89.39 in New York on Thursday after earlier topping $90 per barrel.
Brent crude was up 42 cents at $105.68 a barrel on the ICE futures exchange in London.
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