Oil Prices Up in Asian Trade

SINGAPORE: Oil prices were higher in Asian trade Monday as hopes that the worst is over for the global economy overshadowed worries about the swine flu outbreak, analysts said. New York’s main futures contract, light sweet crude for delivery in June, was up 20 cents to 53.40 dollars a barrel. Brent North Sea crude for June delivery gained 14 cents to 52.99 dollars. Asian stock markets were higher in early trade Monday following gains in US stocks last week.

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