March 7, 2012

Oil prices have traded above $US105 ($100) a barrel on positive US jobs data, despite a government report showing crude stockpiles increased less than expected last week.

Benchmark oil for April delivery was up 83 cents to $105.53 a barrel in late morning trading on the New York Mercantile Exchange.

In London, Brent crude was up 51 cents at $122.49 a barrel on the ICE Futures exchange.

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Remember, it’s not a matter of IF you’ll need storable food, but WHEN!

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