London-Oil markets rebounded February 5 after stronger equities markets shook off concerns about political instability in Spain and Italy. NYMEX March crude settled up 47 cents at $96.64/b after hitting a session-high of $97.07/b during morning US trade. ICE March Brent settled 92 cents higher at $116.52/b, pulling back from an earlier four and a half month high of $117.23/b. The front month contract fell back steadily during mid-afternoon US trade, shedding more than 70 cents within the final 45 minutes.
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