Xinhua, New York :
Oil prices continued to increase on Friday as report showed global oil demand has picked up.
The International Energy Agency issued a strong outlook for global oil demand on Thursday, saying consumption in China, Germany and the United States has increased in recent months.
Meanwhile, a weaker dollar also spurred market sentiment for the dollar-priced oil.
The West Texas Intermediate for August Delivery added 46 cents to settle at 46.54 dollars a barrel on the New York Mercantile Exchange, while Brent crude for September delivery gained 0.49 cents to close at 48.91 dollars a barrel on the London ICE Futures Exchange.
Oil prices continued to increase on Friday as report showed global oil demand has picked up.
The International Energy Agency issued a strong outlook for global oil demand on Thursday, saying consumption in China, Germany and the United States has increased in recent months.
Meanwhile, a weaker dollar also spurred market sentiment for the dollar-priced oil.
The West Texas Intermediate for August Delivery added 46 cents to settle at 46.54 dollars a barrel on the New York Mercantile Exchange, while Brent crude for September delivery gained 0.49 cents to close at 48.91 dollars a barrel on the London ICE Futures Exchange.
