Oil Prices Higher In Asian Trade Over US, China Data

Oil prices rose in Asian trade today on a weaker dollar and positive economic data from major crude consumers China and the United States as well as Germany, analysts said.

New York’s main contract, West Texas Intermediate crude for delivery in February, gained 43 cents to USD 101.14 in morning trade.

Brent North Sea crude for March delivery was up 26 cents to USD 111.79.

However, Phillip Futures said in a commentary that “concerns about Europe’s economy after last week’s credit downgrade limited gains”.

From: http://ping.fm/BmpRn