NEW YORK, May 26 (Xinhua) -- Crude prices hit
six-month high on Tuesday after a report showed that U.S. consumer confidence
rose to the highest level since September.
The Conference Board, a New York-based research
group, said Tuesday that U.S. consumer sentiment index surged in May to 54.9,
more than forecast and its highest level since September, signaling a possibly
stronger demand.
Meanwhile, Saudi Oil Minister Ali al-Naimi told press
in Vienna Tuesday, that he hoped oil demand would recover in the second half of
2008, noting there was already a slight "uptick" in fuel consumption, which also
supportive to the market.
Light, sweet crude for July delivery rose 78 cents,
or 1.3 percent, to settle at 62.45 U.S. dollars a barrel on the New York
Mercantile Exchange. London Brent for July settlement rose 1.03 dollars, or 1.7
percent, to settle at 61.24 dollars a barrel.