Oil up at $56.58/bbl

Crude oil prices surged further, with the Nymex U.S. light crude oil for July delivery rising $1 to close at $56.58 a barrel. The Brent crude was up 92 cents to $56.12 per barrel.

The commodity space saw the Comex gold flared up $7 to settle at $437.90 an ounce.