| GEO Business | | Oil prices turn higher in Asian trade | Updated at: 1143 PST, Monday, May 24, 2010
SINGAPORE: Oil prices turned higher in Asian trade Monday, buoyed by strong performances in Asian equities markets, but analysts said the rise is likely to be short-lived.
New York's main futures contract, light sweet crude for delivery in July, gained 66 cents to 70.70 dollars a barrel in the afternoon, reversing earlier losses. Brent North Sea crude for July delivery advanced 16 cents to 71.84 dollars.
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