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Oil prices mixed in Asian trade

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AFP PTI Singapore
Last Updated : Jan 25 2013 | 2:50 AM IST

Oil traded mixed in Asia today despite a rise in US crude stockpiles that drove home a lack of demand in the world's biggest energy consumer, analysts said.

New York's main futures contract, light sweet crude for delivery in March, eased 17 cents to $40.15 a barrel.

Brent North Sea crude for delivery in March gained 10 cents to $44.25 a barrel.

"The downward momentum in pricing has been broken," said Victor Shum, senior principal in Singapore with energy consultants Purvin and Gertz. He said the 40-dollar level "seems to be a very strong support".

After plunging from record highs above $147 last July, oil prices touched multi-year lows in December, at one point nearing $32 a barrel.

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First Published: Feb 05 2009 | 10:29 AM IST

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