Oil Prices Surged on US Tight Gasoline Supplies

Oil prices rose Friday on worries of tightening U.S. gasoline supplies amid refinery problems in the United States and declining stocks of the fuel.

Light, sweet crude for June delivery rose 12 cents to $65.18 a barrel in Asian electronic trading on the New York Mercantile Exchange midmorning in Singapore. The contract fell 78 cents to settle at $65.06 a barrel Thursday. Heating oil futures added 0.95 cent to $1.8986 a gallon.