Bloomberg News

Rosneft, Lukoil Shares Surge as Crude Oil Extends Advance

February 24, 2012

(Updates with closing prices in second paragraph.)

Feb. 24 (Bloomberg) -- Russia’s biggest oil producers advanced in Moscow trading as crude rose for a seventh day.

OAO Rosneft, the country’s biggest oil producer, added 3.9 percent to 225.55 rubles by 6:45 p.m., while OAO Lukoil jumped 5.2 percent to 1,871.20 rubles, its strongest gain since October 2009.

Oil increased as much as 1.1 percent to $108.99 a barrel in New York, advancing for a seventh day and headed for its longest winning streak since January 2010.

--Editors: Alex Nicholson, James Kraus

To contact the reporter on this story: Alex Nicholson in Moscow at anicholson6@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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