Brent rises above $111 on demand growth hopes, Iran
1/27/2012 11:34:55 AM
SINGAPORE: Brent crude rose above $111 on Friday on hopes of steady demand growth as positive data from the United States boosted expectations of economic expansion gaining momentum in the world's top oil consumer.
Crude also got additional support as supply threats escalated after Iran said it might stop exports to the European Union earlier than July when an EU ban on Iranian crude takes effect.
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