INQUIRER.net: Oil rebounds in Asia but Italy deadlock weighs

INQUIRER.net Philippine News for Filipinos

Oil rebounds in Asia but Italy deadlock weighs Feb 27th 2013, 03:23 SINGAPORE -- Oil prices rebounded in Asia Wednesday but analysts said sentiment remains hobbled by fears that deadlock in the Italian elections could derail the eurozone's nascent recovery. Just as the eurozone's woes appeared to be easing, the results of the Italian vote, which reflected strong public sentiment against austerity measures, spooked global financial markets. New York's main contract, light sweet crude for delivery in April climbed 19 cents to $92.81 a barrel while Brent North Sea crude for April delivery gained 18 cents to $112.89. Both contracts fell in overnight trade. "The prospect for a hung parliament in Italy and concern that the country may need new ele... Keep on reading: Oil rebounds in Asia but Italy deadlock weighs Media files: oil-company.jpg (image/jpeg)

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