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Markets

US crude hits 3-1/2 month high on Fed stimulus hopes

Published Updated

crude-oilSINGAPORE: US crude rose more than $1 to a 3-1/2 month high on Thursday after minutes of the latest US Federal Reserve meeting showed policymakers were keen on another round of stimulus to boost the world's biggest economy.

US oil for October delivery hit a session high of $98.29 a barrel, its highest since May 4. Brent crude was up $1.04 at $115.95 per barrel by 0550 GMT.

Copyright Reuters, 2012

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