Friday, March 12, 2010

Oil prices settle above $82

New York's main contract, light sweet crude for April delivery, settled at $US82.2, while London's Brent North Sea crude for April rose to $US80.4. After spiking as high as US$83 a barrel, oil prices settled above US$82, oil prices have increased on signs of strengthening demand amid clear signs that the economy is starting to recover from recession.

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