Oil above $80 amid optimism about U.S.

Oil
By Alex Kennedy on June 28, 2012

SINGAPORE (AP) — Oil hovered above $80 a barrel Thursday in Asia amid signs the U.S. economy, the world's largest crude consumer, may be improving.

Benchmark oil for August delivery was up 10 cents at $80.31 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract rose 85 cents to settle at $80.21 in New York on Wednesday.

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