December 17, 2010

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World oil prices rose on Friday as the dollar fell against the euro amid improving demand for crude, analysts said.

Brent North Sea crude for delivery in February climbed 29 cents to 91.89 dollars a barrel in London trade.

New York’s main contract, light sweet crude for January delivery, gained 16 cents to 87.86 dollars.

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The dollar fell against the euro on Friday as positive German economic data and EU efforts to safeguard the single currency helped to offset a huge ratings downgrade for Ireland and more Spanish debt problems.

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