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 SINGAPORE (AP) - Oil prices continued to rise Friday as Asian traders reacted to signs that U.S. refineries have begun to increase production and other positive market signs.
Light, sweet crude for May delivery increased 23 cents to $61.92 in midmorning Asian electronic trading on the New York Mercantile Exchange. This followed a surge of more than $2 a barrel the previous day, after the U.S. government reported more robust refinery usage for the first time in weeks.
Traders also appeared to interpret as positive for the market a decision by the U.S. Federal Reserve to leave its benchmark interest rate unchanged.
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