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Brent Nears $109 on US Economic Data

Robust US economic data sent Brent crude oil prices upward, but conflicting data and uncertainty in the eurozone mitigated gains. The commodity traded at 108.94 at 8:02 GMT on Wednesday morning as the demand outlook began to brighten.

Reuters , reported that US home prices had their biggest yearly gain in over six years in January, which fueled speculation that the number one oil consumer picked up speed early in the first quarter of 2013.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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