Oil Fluctuates as Gasoline Surges, China Raises Interest Rates

Bloomberg reports that Oil fluctuated near a one-week low in New York as gasoline futures surged.

The market news is quoted as saying:

Oil for March delivery dropped 27 cents, or 0.3 percent, to $87.21 a barrel at 12:46 p.m. on the New York Mercantile Exchange. Futures have risen 21 percent in the past year.

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