New York-New York Mercantile Exchange May crude futures settled sharply higher March 31, up $2.45 at $106.72/b, breaking out of a recent narrow range but stopping short of breaching key resistance as investors eyed developments in Libya and the Middle East. May crude reached an intra-session high of $106.83/b, falling short of resistance at $106.95/b. Still, the contract attracted new interest, said Gene McGillian, energy analyst at Tradition Energy.
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