Oil rises above $57 on economic hopes

Posted on May 8, 2009

SINGAPORE: Oil rose above $57 a barrel on Friday, heading for weekly gains of more than 7 percent assigns that the global economy may have reached bottom multiplied and brought hopes of recovering oil demand down the road. U.S. light crude for June delivery rose 44 cents to $57.15 a barrel by 0231 GMT, having [...]