Oil prices continue to rise

SINGAPORE (AP) - Oil prices are extending their surge into June in Asia as crude follows regional stocks higher to near $67 a barrel.
   
Oil prices have almost doubled from below $35 a barrel in March as investors have taken heart from signs a severe recession in the U.S. is slowing.
   
Crude traders also gained optimism from surging stocks, with all the major Asian indexes rising on Monday.
   
However, global oil demand remains weak and U.S. supplies are near 19-year highs.
   
Traders will be watching for a slew of U.S. economic figures coming out this week, including May employment, April personal income and spending numbers and construction spending.
   
Monthly reports on the manufacturing and services sector and pending home sales in April are also due to be released this week.
   
Meanwhile, the price of gasoline in the U.S. has jumped 19 cents over the past two weeks. The latest Lundberg Survey finds the average price for a gallon of regular was $2.49 as of Friday. But that’s still well below prices from a year ago.

Gas is averaging $2.30 a gallon in the Tri-county area.

To check out gas prices in your area, click: http://www.fuelgaugereport.com/