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Brent crude settles up 1.1pc on US budget optimism, Mideast

oil-barrels 400NEW YORK: Brent crude oil futures rose $1.25 to settle at $110.76 a barrel on Thursday, lifted by rising tensions in the Middle East and optimism that US lawmakers will reach a deal to avert a budget crisis.


The international benchmark crude traded as high as $111.30 a barrel during intraday activity, and as low as $109.70.


Copyright Reuters, 2012


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