Oil prices trade
at over $52 a barrel
New York: Crude oil prices in New York traded at near a four-month
closing high on concern that oil production and refining capacity will be
unable to keep up with rising demand.
oil for April delivery fell 7 cents to $52.98 a barrel in after-hours electronic
trading on the New York Mercantile Exchange. Yesterday, the contract gained
$1.37 or 2.7 per cent to $53.05, the highest close since October 26.
Prices were up 45 percent from a year ago.
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