International oil prices rose to close at $39.82 a barrel in New York

New York, July 1 (Xinhua) -- International oil prices rose on July 1.

Light crude for August delivery rose 55 cents, or 1.40%, to settle at $39.82 a barrel on the New York Mercantile Exchange by the end of the day. London Brent crude for September delivery rose 76 cents, or 1.84%, to settle at $42.03 a barrel.

Data released by the US Energy Information Administration on The same day showed that US commercial crude oil inventories fell by 7.2 million barrels from last week to 533.5 million barrels, significantly more than the market had expected.
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