Oil prices have risen to above 74 dollars per barrel and are at their highest point in almost 10 months at 74.09 dpb. The first positive economic data since the beginning of the crisis and a weak dollar have boosted crude oil – which last week was at +9.45%. Also rising is the Brent, by 46 cents to 74.65 dpb.

Expectations that demand for energy will grow were spurred by Federal Reserve Chairman Ben Bernanke who said Friday that the U.S. economy is reviving.

Benchmark crude for October delivery rose 22 cents to $74.11 a barrel by midafternoon Singapore time in electronic trading on the New York Mercantile Exchange. On Friday, it jumped 98 cents to settle at $73.89.

In more good news for the U.S. economy, the National Association of Realtors said Friday that home resales posted the largest monthly increase in at least 10 years.

Asian stock markets rallied on recovery hopes, with Japan’s Nikkei 225 index jumping 3.4 percent.

In other Nymex trading, gasoline for September delivery added 2.43 cents to $2.0199 a gallon and heating oil for September delivery added 1.28 cents to $1.9177 a gallon. Natural gas for September delivery fell 2.9 cents to $2.775 per 1,000 cubic feat after tumbling another 14.1 Friday.