Oil Advances 79 Cents on Signs of Increased Fuel Demand

Bloomberg reported that oil surged 79 cents over speculations that fuel demand may increase shortly.

As quoted in the market news:

Oil for April delivery rose as much as 79 cents to $107.13 a barrel in electronic trading on the New York Mercantile Exchange. It was at $106.88 at 12:36 p.m. London time. The contract yesterday fell $1.06 to $106.34, the lowest settlement since March 7. Prices are 8.1 percent higher this year.

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