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Oil prices are popping again

Oil prices have topped $60 a barrel today as many European and Asian stock markets bounced back from a weeklong slide, and strategists pointed to robust demand for gasoline and falling petroleum inventories, according to an Associated Press report cited on signonsandiego.com.
Light, sweet crude for April delivery rose 63 cents to $60.70 a barrel in electronic trading on the New York Mercantile Exchange by midday in Europe. The contract fell 2.5 percent yesterday to settle at $60.07 a barrel, the lowest for a front-month contract since Feb. 21.

Posted by   at 10:49 AM to Oil | Permalink

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