Oil Gains 47 Cents on U.S. Economic Outlook

Bloomberg reported that that oil rose 47 cents on speculations over increase in fuel demand in the U.S.

As quoted in the market news:

Oil for April delivery gained as much as 47 cents to $105.58 a barrel in electronic trading on the New York Mercantile Exchange and was at $105.52 at 11:23 a.m. Sydney time.

Click here to read the full Bloomberg report.