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Commodities - International Oil Report

LONDON: Oil began 2010 with a bang on Monday, jumping above $81 on expectations of higher energy demand in the northern hemisphere winter and after Russia cut supplies to Belarus, traders said. New York s main futures contract, light sweet crude for delivery in February, spiked to $81.68 per barrel. It later stood at $81.25, up $1.89. Brent North Sea crude for February rose $2.02 to $79.95 in London trading. It had earlier risen as high as $80.13.

Courtesy : The News


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