Oil prices closed at various local

Oil prices closed at various local time Thursday, with the "rally" last shares in Wall Street enthusiasm for the reference contract, New York.

Contract main measure New York, crude oil "light sweet" for August delivery, rose 48 cents to be closed at 62.02 U.S. dollars per barrel, extended the increase in more than 3.0 percent on Wednesday.

In London, Brent crude North Sea for August delivery down 34 cents to be settled in U.S. dollars 62.75 per barrel.

After declining in most of the trading session, the contract rose in New York hours, the same (Tandem) with the increase in Wall Street as stock-out of stock a range of more advanced and rigorous level.

Price was under pressure in early trading as concerns about the shadow of the main U.S. bankruptcy creditor, CIT Group (NYSE: CIT - news), and as traders take advantage of the "rally" strong Wednesday.

Barclays Capital analyst, said the oil market has been stable as a result of the new investor expectations for the recovery of recession after a series of economic data and company reports better than expected.


China, the country the second largest energy consumer in the world, the economy grew 7.9 percent in the second quarter 2009, after the race at the 6.1 percent the previous quarter.

Growth of the stronger stimulus is supported by the government 580 billion U.S. dollars.


Analysts said the overall crude oil demand is still weak.