Financial Times FT.com

Crude breaches $77 as US petrol demand soars

By Javier Blas in London

Published: July 12 2007 12:54 | Last updated: July 12 2007 18:28

Crude oil prices Thursday rose to a new 11-month high above $77 a dollar supported by strong US petrol consumption and fund money flowing into the energy markets.

US petrol consumption rose last week to 9.7m barrels a day, the third highest reading ever and the highest for 2007, according to Lehman Brothers data.

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