January 27, 2011 12:43 PM

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Oil prices rise in Asian trade

Crude prices rose in Asian trade today as the Federal Reserve reaffirmed its commitment to stimulate the US economy through quantitative easing measures and home sales soared. New York's main contract, light sweet crude was up 27 cents at 87.60 dollars per barrel. Brent North Sea crude rose 15 cents to 98.06 dollars.

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