Local Time: 8/9/2010  3:47:27 AM                         GMT Time: Wed, 8 Sep 2010 01:47:27
Oil price rise after sharp falls   (7/22/2010)

World oil prices firmed Thursday, following recent sharp falls, as traders assessed Federal Reserve chairman Ben Bernanke's gloomy outlook, alongside news of a surprise jump in US crude reserves.

New York's main contract, light sweet crude for delivery in September, gained 27 cents to 76.83 dollars a barrel. Brent North Sea crude for September added 15 cents to 75.52 dollars in morning deals.


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