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"The positive demand shock of 2010 has continued into 2011," Barclays said. "Chinese oil demand has shown no signs of easing and the U.S. economy continues to grow and oil demand remains healthy, even in the face of retail prices approaching record levels."
In other Nymex trading for April contracts, heating oil fell 1.3 cents to $3.04 a gallon and gasoline dropped 1.2 cents to $3.03 a gallon. Natural gas added 3.1 cents to $4.43 per 1,000 cubic feet.
Copyright 2011 The Associated Press. All rights reserved. This
material may not be published, broadcast, rewritten or
Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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