Oil above $75
Ap, Vienna
Oil prices extended their rise above $75 a barrel on Thursday as the market reacted to an unexpected decline in U.S. gasoline inventories.Light, sweet crude for August delivery on the New York Mercantile Exchange gained 57 cents to $75.65 a barrel in electronic trading by noon in Europe. The contract rose $1.03 Wednesday to settle at $75.05 a barrel on the Nymex, the first time a front-month contract closed over $75 since Aug. 9.
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