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Crude prices mixed in Asian trade

Dip in US industrial output spurs concerns about lagging economic activity

AFPPTI Singapore
Oil prices were mixed in Asia today with downward pressure coming from a slip in US industrial output, analysts said.

New York's main contract, light sweet crude for delivery in March eased 14 cents to $95.72 a barrel while Brent North Sea crude for delivery in April added 26 cents to $117.92.

Trading was restrained "after an unexpected dip in US industrial production spurred concerns about lagging economic activity", Phillip Futures said in a report.

Official data Friday showed industrial production in the United States -- the world's largest economy and oil consumer -- contracting 0.1% in January, with manufacturing output falling 0.4%.

"Economists had been expecting a modest increase in industrial output in January," Phillip Futures said. 

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First Published: Feb 18 2013 | 9:49 AM IST

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