Oil Prices Rose In Asian Barter China And The United States


SINGAPORE: Oil prices rose in Asian barter Wednesday on a weaker dollar and absolute bread-and-butter abstracts from above awkward consumers China and the United States as able-bodied as Germany, analysts said.

New York's capital contract, West Texas Intermediate awkward for commitment in February, acquired 43
cents to $101.14 in morning trade.

Brent North Sea awkward for March commitment was up 26 cents to $111.79.

However, Phillip Futures said in a annotation that "concerns about Europe's abridgement afterwards aftermost week's acclaim decline bound gains".

The euro was trading at $1.2777 adjoin the US dollar in aboriginal Asian barter from $1.2737 in New York backward Tuesday.

A weaker greenback makes dollar-priced awkward added adorable to traders application added currencies, advocacy appeal and blame prices up.

Meanwhile, official abstracts Tuesday showed China's abridgement growing 8.9 percent in the aftermost division of 2011, college than analyst expectations of 8.6 percent although it was lower than abstracts for the antecedent three months.

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