February 29, 2012 11:24 AM

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Crude rebounds amid concerns of Iran nuclear porogramme

Oil prices rebounded in Asian trade today as concerns over crude producer Iran's nuclear programme crept back into the market.New York's main contract, light sweet crude for delivery in April, gained 28 cents to 106.83 dollars, while Brent North Sea crude for April delivery was up 60 cents to 122.15 dollars in morning trade.Prices had been on the retreat since Monday on profit-taking and worries that high energy costs could erode demand and hurt the global economy.

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