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Oil price hovers around $97 ahead of US data

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The price of oil hovered around $97 a barrel on Wednesday ahead of the release of U.S. housing starts for January. By early afternoon in Europe, benchmark crude for April delivery was down 19 cents to $96.91 a barrel in electronic trading on the New York Mercantile Exchange. The March contract, which expires Wednesday, rose 80 cents to finish at $96.66 per barrel on the Nymex on Tuesday. Later...

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