Crude oil prices rose above $73 today, supported by gains in Asian and European equity markets and after yesterday's US official oil data showed an increase in fuel demand.
Market focus will shift later today to preliminary first-quarter gross domestic product figures from the US, the world's largest economy and top energy consumer, for signs of economic recovery.
US crude futures for July rose $1.83 to $73.34 a barrel. Brent crude futures gained $1.37 to $73.11.
US crude jumped 4% yesterday, its biggest one day percentage gain in over three months, after data from the Energy Information Administration showed an increases in US demand for refined oil products such as petrol and diesel.
