Monday, February 18, 2008

World oil prices rise in volatile Asian trade

After closing at US$95.50 on Friday, New York's main oil futures contract, light sweet crude for delivery in March stood at US$95.59 per barrel. World oil prices rose in volatile Asian trade on Monday morning as concerns of a looming US recession weighs heavily on market sentiment. Brent North Sea crude for April delivery stood at US$94.70 a barrel.
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