Oil prices end the year below US$100 in Asia amid signs of improvement in US economy

02-Jan-12
Oil prices ended the year 2011 a tad below US$100 a barrel in Asia amid signs of gradual improvement in the U.S. economy. Benchmark crude for February delivery inched up to US$99.7 on the Nymex. Prices have jumped by over 20 dollars from levels of US$75-78 in October to the current level in November as the market looks to growing evidence the U.S. economy could avoid a recession in 2012.
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