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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Oil prices rise

Oil prices rise

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1Oil prices rise Empty Oil prices rise Thu Mar 21, 2013 12:18 am

CSE.SAS

CSE.SAS
Global Moderator
BANGKOK (AP) -- The price of oil rose Tuesday as energy markets set aside worries about a financial crisis in Cyprus after the release of strong U.S. housing data.

Benchmark oil for April delivery was up 28 cents to $92.80 per barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract fell $1.58 to finish at $92.16 on Tuesday.

Brent crude, used to price many kinds of oil imported by U.S. refineries, rose 42 cents to $107.86 per barrel on the ICE Futures exchange in London.

Oil prices fell Tuesday after lawmakers in Cyprus rejected a plan to tax bank deposits to stabilize the country's banks and clear the way for an international bailout.

But data pointing toward a steadily improving U.S. housing market provided further proof that an economic recovery is taking hold.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=75153

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