Crude rose on Friday, lifted by hopes that the economy may be poised for a recovery as equities rose, the euro strengthened against the dollar and refinery snags added support.

U. S. natural gas futures were trading about 10 cents higher in early electronic trade Friday, rising again with stronger crude futures and global equity gains amid expectations that recent good economic data would translate into better demand for energy products.

The U. S. Energy Information Administration report showed total domestic gas inventories of 1.918 trillion cubic feet stood 491 bcf, or 34 percent, above last year and 362 bcf, or 23 percent, above the five-year average. The Organization of Petroleum Exporting Countries will review its output levels on May 28. Iran, the group’s second- largest member, will seek a price of $70 a barrel, told the OPEC Governor.

China Petroleum & Chemical Corp., Kuwait Petroleum Corp. and an overseas oil producer plan to build a $9 billion refining and petrochemical plant in southern China’s Guangdong province, according to the head of China’s energy authority. The plant will include an oil refinery and an ethylene plant.

Centrica Plc, U. K.’s biggest energy supplier will pay about 2.25 billion pounds ($3.4 billion) to buy a 20 percent stake in British Energy Group Plc from Electricite de France SA. The latest National Weather Service six to 10-day outlook issued Thursday called for abovenormal readings for about the southern half of the nation and near-normal or below-normal readings for northern-tier states.

Temperatures in key gas consuming cities New York and Chicago were seen sliding up to 8 degrees below normal by midweek next week, but highs were still seen mostly in the 60s degrees Fahrenheit in both cities, according to forecaster DTN Meteorlogix.

Crude oil futures may trade sideways to down for the day due on profit taking, trend still remains up in energy complex. Natural Gas too may witness some profit taking during the day.

Drop in the RSI indicates that we may see some profit taking in near term in crude oil and markets are in the overbought zone. A technical correction is expected. The prices may test $56.50 per barrel.