December 29, 2009 10:58 AM

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Oil prices remain above US dollar 78 in Asian Trade

Oil prices were lower but remained above 78 dollars in Asian trade today. New York's light sweet crude was down by 18 cents at 78.59 dollars a barrel in morning trade. Brent North Sea crude eased seven cents to 77.25 dollars. Analysts said expectations of robust demand for heating fuel during the northern hemisphere winter should boost demand, leading to higher prices.

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