The price of West Texas Intermediate oil traded near its highest level in six weeks on speculation declining U.S. oil reserves when the cold weather increases the demand. WTI oil price for March delivery fell 12 cents to $ 99.94 per barrel in electronic trading on the New York Mercantile Exchange hours of 11:43 am in Sydney on Tuesday. Yesterday, the price touched $ 100.06 strongest level since December 27. Brent crude oil for March delivery fell 94 cents, or 0.9 percent, to $ 108.63 a barrel on the London-based ICE Futures Europe exchange. (end)
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