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Crude prices hit 11-month high
POSTED: 9:45 a.m. EDT, July 20,2007

Crude prices hit 11-month high Thursday on worries of U.S. stockpiles and supply cut in Angola.

Due to an electrical problem, production at a field facility in Angola fell to 127,000 barrels.

On Wednesday, U.S. government reported that gasoline stockpiles unexpectedly fell during the week ended June 13.

Light, sweet crude oil for August delivery ended 87 cents, or 1. 2 percent higher, at 75.92 dollars a barrel on the New York Mercantile Exchange, after hitting an 11-month high of 76 dollars.

The September Brent contract on the ICE Futures exchange was up 91 cents to 77.67 dollars a barrel.

From: xinhua
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