Brent steady above $110 on Iran, better demand outlook
Oil rigs are seen on Lake Maracaibo from the shore in Cabimas, in Venezuela's western state of Zulia February 28, 2011./ (Reuters) - Brent crude held above $110 on Wednesday on supply concerns as Iran renewed a threat to close the vital Strait of Hormuz while the demand growth prospect looks set to improve with positive economic indicators from Europe and the United States. Markets were lifted after surveys showed that the euro zone may escape recession with a surprise pickup in services this month. The data showed Germany's service sector ...
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