The price of oil rose Tuesday as energy markets set aside worries about a financial crisis in Cyprus after the release of strong U.S. housing data.
Benchmark oil for April delivery was up 20 cents to $92.36 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract fell $1.58 to finish at $92.16 on Tuesday.
Brent crude, used to price many kinds of oil imported by U.S. refineries, rose 52 cents to $107.97 per barrel on the ICE Futures exchange in London. Read the full story www.foxnews.com.