Thursday, February 21, 2008

After rising past US$101, oil prices hold near US$100

Light, sweet crude for April delivery held at US$99.78 a barrel in Asian electronic trading on the New York Mercantile Exchange by midday in Singapore. After rising to a record levels above US$101 a barrel, oil prices have stabilised at around US$100 a barrel, on additional cash inflow from investors into crude and other commodities as a hedge against inflation.

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