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Oil stays above $91

27 December 2010 07:33 (UTC +04:00)

Baku â€“ APA-Economics. Oil prices hovered above $91 a barrel Monday in Asia as some OPEC ministers signaled the group doesn’t plan to boost output to cool the recent jump in crude, Associated Press reported.

Benchmark oil for February delivery fell 17 cents to $91.34 a barrel midday Singapore time in electronic trading on the New York Mercantile Exchange.

On Thursday, the contract rose $1.03 to settle at $91.51, the highest level since October 2008. Global oil markets were closed Friday for the Christmas holiday.

In London, Brent crude rose 32 cents to $94.09 a barrel on the ICE Futures exchange.