13:15
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NEW YORK (AFP)-world oil prices jumped Thursday on the back of positive economic data and signs of improvement in demand in the United States.
In New York, the main contract, West Texas Intermediate for delivery in August, closed at $ 98.67 $2,02 per barrel after getting within 58 cents on $ 100 mark.
North Sea Brent crude for August rocketed 4.97 dollars to close at $ 118.59 USD.
The moves came on the back of positive on assumption data tentatively from the private sector, as well as encouraging news on retail sales.
Payroll firm ADP said that private companies added 157,000 jobs in June, a solid jump after the increase of 36,000 weak work in May.
Encourage ADP figures well above forecast revisions to data on the expected U.S. non-farm payrolls (NFP) Friday for June.
"The data of ADP really spurred the rally-the forerunner of payroll water tomorrow, that set the tone for the market," said Matt Smith Energy Summit.
"Then we had the inventory report that was leaning toward the leaner parts," he added.
The Department of energy announced that gasoline stocks fell 600,000 barrels in the week ending 1 July.
That confounded expectations for a gain of 200,000 barrels, according to analysts polled by Dow Jones Newswires and indicated stronger demand, prices fell and the summer holidays began.
Crude inventories, however, were down 900,000 barrels last week, ben's forecast for a drop of 2.4 million-barrel.
"It seems that WTI will test again, $ 100," said Smith. "There is real momentum in prices".
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