Oil fluctutates around a four-month high on speculation for the U.S. debt ceiling

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Source: Bloomberg
Oil futures for March settlement were down by 12 cents to $96.65 a barrel on the New York Mercantile Exchange during Singapore trading session on Wednesday. The average volume was higher by 38% above the 100-day average and the price was traded close to the highest level since September, 2012. Oil was traded positively on speculation, that the U.S. will lift its debt limit and stockpiles will increase.
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