NY September crude oil futures surge over 3.5%

The oil price rose for two consecutive days. Indicated by the data released by the US Petroleum Association on Tuesday, the market demands for the oil products increased, which push the oil prices to soar. New York September Crude oil futures closed at US$27.72 each barrel, increasing 94 cents, or 3.5%, the biggest daily up range since July 20. New York September petroleum futures closed at 77.6 cents per gallon, a pick up of 3.09 cents, or 4.2%.

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