GRAHA STUFF

AP reported a benchmark crude oil for July delivery rose 31 cents to U.S. $ 71.75 per barrel in midday trading on the New York Mercantile Exchange, Singapore. For a similar contract yesterday fell 7 cents to U.S. $ 71.44.

All major Asian stock markets rose today after Bernanke said the U.S. estimate the economic recovery will continue. Bernanke delivered it Monday night after the Dow Jones fell 1.2 percent.

Euro rises, from the lowest position in four years recently, which also helped increase oil prices. The euro rose to U.S. $ 1.1963 on Tuesday from U.S. $ 1.1916 on Monday, making oil cheaper for investors who use the European currency. The storm could disrupt oil operations in the Gulf of Mexico and pushed the stock price on the storm season that begins this month.

"Once the dollar falls, the stock market recovered and the storm struck the Gulf of Mexico, where we could see this storm will increase the price of crude oil," said energy consultant from the Schork Group in a statement.

In other trading on the NYMEX, for the contract in July, the result of heating oil rose 0.59 cent to U.S. $ 1.9742 per gallon and gasoline rose 0.71 cent to U.S. $ 2.0020 per gallon. Natural gas rose 5.5 cents to U.S. $ 4.971 per 1,000 cubic feet. Brent crude oil rose 16 cents to U.S. $ 72.28 per barrel on the ICE futures exchange.