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Article: Oil extends gains in Asian trade.
- Article from:
- Times of Oman (Muscat, Oman)
- Article date:
- November 4, 2009
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Byline: AFP
SINGAPORE: Oil rose further in Asian trade Tuesday, underpinned by a better-than-expected expansion in the US manufacturing sector, analysts said.
A weak greenback, which makes dollar-priced crude cheaper for holders of stronger currencies, was also an extra factor behind the higher futures, they added.
New York s main contract, light sweet crude for December delivery, advanced 26 cents to 78.39 dollars a barrel.
Brent North Sea crude for December delivery gained 19 cents to 76.74 dollars.
The two contracts closed firmer Monday, buoyed in part by the US manufacturing expansion.
The Institute of Supply ...