December 17, 2012 11:32 AM

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Oil prices up in Asia

Oil was up in Asia today on trader expectations of a hike in Chinese crude demand after a key survey showed its manufacturing activity hitting a 14-month high in December. New York's main contract, light sweet crude for delivery in January rose 23 cents to 86.98 dollars a barrel and Brent North Sea crude for February delivery advanced five cents to 108.23 dollars.

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