Crude Sees Gain

July 25, 2008 8:25:43 AM PDT
Oil extended a rebound Friday, rising above $126 a barrel after several declines over the past two weeks. The market remains weighed down by the belief that falling fuel demand does not justify the recent high prices.

Light, sweet crude for September delivery rose 67 cents to $126.16 a barrel in electronic on the New York Mercantile Exchange by early afternoon in Singapore. The contract rose $1.05 to settle at $125.49 a barrel on Thursday.