New York, NY, Jan. 4, 2010–Oil prices rose back above $80 a barrel Monday in Asia on optimism a gradual U.S. economic recovery in 2010 will boost demand for crude.
Benchmark crude for February delivery was up 93 cents at $80.29 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange.
Oil has jumped from $69 a barrel last month on signs the U.S. economy may be improving.
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