NEW YORK: Oil prices are climbing as the possibility that China may increase efforts to stimulate economic growth is tempering concerns about Greece's debt crisis.
Benchmark oil rose 64 cents to US$92.12 per barrel in Monday morning trading in New York. Brent crude increased US$1.01 to US$108.15 per barrel in London.
Chinese Premier Wen Jiabao says that more efforts should be devoted to helping growth in China. That could increase demand for oil.
Yet, worries persist about Greece's economic future and the implications for the overall economy of Europe.
In other trading, natural gas prices are falling sharply as moderate weather in some areas reduced the need for air conditioning. (AP/aph)
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