INQUIRER.net: Oil prices up in Asian trade

INQUIRER.net Philippine News for Filipinos

Oil prices up in Asian trade Feb 11th 2013, 02:40 SINGAPORE – Oil prices were higher in Asian trade Monday on optimism that robust trade data from the United States and China will augur well for energy demand.   New York's main contract, light sweet crude for delivery in March was up 11 cents to $95.83 and Brent North Sea crude for March delivery gained nine cents to $118.99.   "Positive trade data out of the world's two largest economies sent traders into the Chinese New Year holidays in an upbeat mood," said Jason Hughes, head of premium client management at IG Markets Singapore.   "The US narrowed its trade gap to the smallest margin in three years, thanks mainly to record oil exports. Meanwhile... Keep on reading: Oil prices up in Asian trade Media files: US-Oil-Boom-1024x593.jpg (image/jpeg)

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