May 30, 2013 11:32 AM

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Oil prices recover in Asia

Oil prices recovered in Asian trade today following a drop triggered by fresh economic data that highlighted global growth concerns. New York's main contract, light sweet crude for delivery in July added eight cents to 93.21 dollar a barrel in the afternoon and Brent North Sea crude for July delivery increased 29 cents to 102.72 dollar. Both contracts closed almost two dollar lower yesterday after the Organisation for Economic Cooperation and Development, which groups industrial economies, trimmed its forecast for 2013 world economic growth to 3.1 percent from 3.4 percent.

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