Oil prices are extending gains from the previous session on Monday morning amid a weaker dollar and expectations that the recent earthquake in Chile will lift energy demand due to rebuilding projects, players said.
The front month contract for Brent North Sea crude oil was last seen changing hands up USD 0.31 at USD 77.90/bbl on the ICE platform, while the WTI April contract traded USD 0.34 higher at USD 80.00/bbl.
On Friday, the Brent contract closed up USD 1.30 at USD 77.59/bbl, following trades in a USD 75.91-77.99/bbl range, while the WTI contract gained USD 1.49 to end the day at USD
Montag, 1.03.2010, 08:21 Uhr
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