LONDON, May 5: World oil prices rose on Thursday after volatile trading the previous day as traders digested a sharp rise in US gasoline reserves, dealers said. New York’s main contract, light sweet crude for delivery in June, jumped 42 cents to $50.55 per barrel in early deals. It slumped on Wednesday to $48.80, below $49 for the first time since February 18, following publication of the stocks data. In London on Thursday, the price of Brent North Sea crude oil for delivery in June gained 29 cents to $51.26 per barrel. Brent crude fell to $49.66 the day before, the lowest level since March 1.—AFP
