By Wayne Ma Of DOW JONES NEWSWIRES SINGAPORE (Dow Jones)--Crude oil futures in Asia rose Thursday, helped by a weaker U.S. dollar after China recorded a rising trade surplus and stronger growth in exports in May compared with a month earlier. "Although there are some signs of leveling off in China's growth in imports, it's really the export story that seems to be playing through the oil market at the moment," Melbourned-based National Australia Bank minerals and energy economist Ben Westmore said. On the New York Mercantile Exchange, light, sweet crude futures for delivery in July traded at $74.63 a barrel at 0622 GMT, up $0.25 in the Globex electronic session. July Brent crude on London's ICE Futures exchange rose $0.12 to $74.39 a barrel. China's trade surplus widened sharply in May as exports grew more than expected, indicating that troubles in Europe haven't dampened global demand for Chinese goods. The euro and pound rose against the dollar following the data, making commodities--including oil--cheaper for investors. Although China's export data improved, its crude imports fell 16% from a month earlier, indicating that overall domestic demand likely cooled, analysts at Australia and New Zealand Banking Group said in a research note. The decline, however, was from a near-record level in April, they said. "Macroeconomic headlines and the associated swings in the equity and currency markets should continue to dominate oil pricing sentiment going forward," Ritterbusch & Associates President Jim Ritterbusch said in a note. "We see no reason to throw in the towel as far as a bearish view and an ultimate crude price decline toward the $67 (a barrel) area is concerned." Nymex reformulated gasoline blendstock for July--the benchmark gasoline contract--rose 23 points to $2.0420 a gallon, while July heating oil traded at $2.0134, 38 points higher. ICE gasoil for June changed hands at $638.00 a metric ton, down $1.75 from Wednesday's settlement. By Wayne Ma, Dow Jones Newswires; +65 6415 4065; wayne.ma@dowjones.com

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