The New Nation - Internet Edition

Internet Edition. March 28, 2008, Updated: Bangladesh Time 12:00 AM

Oil prices rise above 106 a barrel after overnight jump

AP, Singapore

Oil prices have risen above $106 a barrel after soaring more than $4 in the previous session as lower U.S. fuel inventories and the falling U.S. dollar spurred buying.

Light, sweet crude for May delivery added 26 cents to US$106.16 a barrel in Asian electronic trading on the New York Mercantile Exchange by midmorning Thursday in Singapore. The contract rose US$4.68 to settle at US$105.90 a barrel Wednesday.

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