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Oil Trades Near One-Week Low on Demand Concern

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Feb. 29 (Bloomberg) -- Oil for April delivery rose as much as 30 cents, or 0.3 percent, to $106.85 a barrel in electronic trading on the New York Mercantile Exchange and was at $106.83 at 1:06 p.m. Sydney time. Prices are 8.5 percent higher this month and up 10 percent in the past year.

Brent oil for April settlement was at $122.14 a barrel, up 59 cents on the London-based ICE Futures Europe exchange.

To contact the editor responsible for this story: Paul Gordon at pgordon6@bloomberg.net

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