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LONDON, Feb 12: Global oil prices rose on Tuesday on the eve of key US inventory data, but analysts cautioned that Brent’s recent rally was faltering.
Brent North Sea crude for delivery in March added 44 cents to $118.54 a barrel in London early afternoon deals, but was some way off the nine-month peak of $119.17 that was struck on Friday. New York’s main contract, light sweet crude for March, gained 29 cents to $97.32 a barrel.
“The upswing in the price of Brent is faltering,” said Commerzbank analyst Carsten Fritsch.—AFP
