Oil Rises as Much as 0.5 Percent to $101.19 a Barrel in New York

Oil for March delivery rose as much 0.5 percent to $101.22 a barrel in electronic trading on the New York Mercantile Exchange. It was at $101.16 at 10:54 a.m. Singapore time. The contract declined 17 cents to $100.74 yesterday, the lowest settlement since Feb. 10. Prices are 20 percent higher in the past year.

To contact the reporter on this story: Ben Sharples in Melbourne at bsharples@bloomberg.net

To contact the editor responsible for this story: Christian Schmollinger at christian.s@bloomberg.net

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