Crude oil price little changed

Crude oil price little changed
# 15 January 2010 07:47 (UTC +04:00)
Baku– APA-Economics. Oil traded little changed near US$80 in New York on speculation improving U.S. corporate earnings and global confidence will signal a strengthening economic recovery.

Crude held near US$80 a barrel, shrugging off gains in U.S. crude and fuel supplies, as equity markets and confidence in the economy rose around the world. Global oil demand will increase by 1.7 million barrels a day next year, according to the Energy Department.
Crude oil for February delivery was 19 cents higher at US$79.84 a barrel in electronic trading on the New York Mercantile Exchange at 11:56 a.m. London time. It earlier rose as much as 71 cents, or 0.9 percent, to US$80.36 a barrel.
Brent crude oil for February settlement rose as much as 67 cents, or 0.9 percent, to US$78.98 a barrel on the London-based ICE Futures Europe exchange. It was at US$78.36 a barrel at 11:58 a.m. local time. The contract expires at Thursday’s settlement. The more actively traded March future gained 10 cents to US$79.75 a barrel.
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