Oil prices surge on falling U.S. inventories

NEW YORK, July 27 (Xinhua) -- Oil prices continued to soar on Thursday amid falling U.S. inventories.

The West Texas Intermediate for September Delivery added 0.29 dollar to settle at 49.04 dollars a barrel on the New York Mercantile Exchange, while Brent crude for September delivery gained 0.52 dollar to close at 51.49 dollars a barrel on the London ICE Futures Exchange. Enditem