Oil stays above $78 in Asian trade - NDTV.com

Agence France Presse, March 2, 2010 (Singapore) Oil prices bounced back in Asian trade on Tuesday but gains were limited as demand uncertainties and economic woes in the eurozone weighed on investors.

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New York's benchmark futures contract, light sweet crude for April delivery, added 10 cents to $78.80 a barrel. It had hit an intra-day high of $80.62 on Monday, the highest level since mid-January. "The market is looking for some guidance on fundamentals and we should be getting some data towards the end of the week, both in terms of economic growth and inventories," said Jason Feer, analyst with energy consultancy Argus Media.

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