March 12 (Bloomberg) -- Crude oil fluctuated after U.S. retail sales unexpectedly rose in February and a separate report showed that confidence among U.S. consumers declined this month.
“There’s a rush to interpret every new piece of economic data,” said Michael Fitzpatrick, vice president of energy at MF Global in New York. “We did reach $83.16, a new high, but otherwise today is a sleeper.”
Crude oil for April delivery rose 18 cents to $82.29 a barrel at 10:58 a.m. on the New York Mercantile Exchange. Prices touched $83.16, the highest since Jan. 11. Futures are up 1 percent this week and are 75 percent higher than a year ago.
Brent crude oil for April delivery rose 22 cents, or 0.3 percent, to $80.50 a barrel on the London-based ICE Futures Europe exchange.
Prices climbed earlier as the dollar weakened against the euro and the International Energy Agency bolstered its outlook for global fuel demand this year......more detial
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