Oil rebounds in Asia

PTI Mumbai | Updated on February 10, 2011

Oil prices were higher in the Asian trade today on persistent concerns over the situation in Egypt where the embattled government has warned of a military crackdown against protesters.

New York’s main futures contract, light sweet crude for March, climbed 19 cents to $86.90 a barrel.

The contract fell overnight on rising US crude stockpiles, an indication of weak demand from the world’s biggest oil-consuming nation.

Brent North Sea crude for delivery in March was up 28 cents at $102.10 a barrel on the IntercontinentalExchange (ICE) in London.

Published on February 10, 2011

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