Dhaka, Bangladesh (BBN)- Brent crude rose above USD 99 a barrel on Friday, failing to reach USD 100 before the front-month contract expired, but helping lift U.S. oil prices despite China's latest move to tighten credit.
The strength of U.S. equities and Brent helped U.S. crude end higher after seesawing and being pressured early by China's move to lift lenders' reserve rate requirements by 50 basis points in its ongoing effort to tame inflation, according to reports.
BBN/SSR/AD-16Jan11-1:43 pm (BST)