Oil price hits 15-month high

11 January 2010

Oil prices climbed to a 15-month high above $83 a barrel on Monday, as data showing China's crude oil imports surged by nearly 25% in December and the US dollar weakened, Reuters has reported. US crude for February delivery rose 67 cents to $83.42 a barrel by 0958 GMT, off an earlier peak of $83.67, the highest price since October 2008.

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