February 29, 2012 8:34 PM

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Brent crude oil rise slightly after banks tap ECB for 529 bn euros

Brent crude oil futures rose slightly after banks tapped the European Central Bank for 529 billion euros, on Wednesday, in the ECB's three-year refinancing operation, beating expectations, and spurring hopes that the stimulus would boost buying of risky assets, like oil.April Brent crude on London's ICE Futures exchange rising 7 cents, to 122.76 dollars a barrel, after the announcement. On the New York Mercantile Exchange, light, sweet crude futures for delivery in April rose 67 cents, at 107.22 dollars a barrel.

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