Oil prices rise past US$80 at beginning of week

02-Mar-10
Regional stock markets rose, pushing up oil prices above US$80 a barrel on Monday in Asia. Benchmark crude for April delivery rose to US$80.1 on the Nymex. All the major Asian stock indexes were healthy, as equity markets were boosted by hopes that Greece's debt-ridden economy would soon be rescued and a slowdown in Chinese manufacturing growth eased fears of additional government measures to cool the economy. Oil traders often follow the cue of the equities as a measure of overall investor sentiment.
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