Urgent: Oil rises on positive data, Fed statement

March 14, 2012 9:43 am 

NEW YORK, March 14 — Crude prices rose on Tuesday as U.S. retail data came in positive and the Federal Reserve described the economy as "expanding moderately" in its monthly statement.

Light, sweet crude for April delivery edged up 37 cents, or 0. 35 percent to settle at 106.71 dollars a barrel on the New York Mercantile Exchange. In London, Brent crude for April delivery also gained and last traded around 126 dollars a barrel. (PNA/Xinhua) RSV/mmg

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