Oil prices rose above $74 a barrel Monday in Asia as (traders) look to a U.S. jobs report this week for clues about the (strength) of the global economic recovery.
Benchmark crude for July delivery was up (26) cents at $74.23 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract (lost) 58 cents to settle at $73.97 on Friday.
Trading volume was light as markets are (closed) in the U.S. on Monday for the Memorial Day holiday.
Oil prices have swung this month between $87 a barrel and $64 as fears that a debt (crisis) in Europe could spread and undermine the global economy rocked financial markets.