FEB 6 FRIDAY
US Crude settled 85 cents higher at 4 41.17 a barrel .
London Brent Crude rose $ 2.31 to settle at $ 46.46 a
barrel.
Oil price rose as part of a wider market rally on hopes
that Obama's administration plans to shore up
the financial system with an aid of $ 800 billion would
help bank to stem losses nad revive lending.
The prices wwere pressurised by weaker economic data from the
US ndn interest rate cut by the BOE increasing concerns
over falling consumption levelS.
Crude oil for trade under the Nymex might see support
at $ 37 and resistance for the same can be seen at $ 41
levels respectively.
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