Oil rises above $80

22 February 2010

Crude oil rose above $80 a barrel in New York for a second day as Iran's OPEC governor said global consumption may climb by as much as 1.4 million barrels a day in the second half of this year. Crude oil for March delivery rose as much as 70 cents, or 0.9%, to $80.51 a barrel in after-hours electronic trading on the New York Mercantile Exchange. It was at $80.26 at 12:53 p.m. in Singapore, according to Bloomberg.

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