Oil Gains in London as German Business Confidence Rises More Than Forecast
By John Buckley -
2012-02-23T09:10:22Z
Crude oil advanced to its highest in more than nine months in London after a German report showed business confidence in Europe’s biggest economy rose more than economists had forecast.
Brent crude for April settlement on the ICE Futures Europe exchange in London gained as much as 79 cents, or 0.6 percent, to $123.69 a barrel, the highest price since May 3, and was at $123.49 at 9:07 a.m. local time. Oil for April delivery on the New York Mercantile Exchange was up 12 cents at $106.40, erasing an earlier loss of 0.5 percent.
To contact the editor responsible for this story: John Buckley at johnbuckley@bloomberg.net
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