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World oil prices advance

2/12/2009 7:57:01 AM

World oil prices advanced on Tuesday as fears over Dubai's debt problems receded and after overnight gains on upbeat US business data that boosted economic recovery hopes, analysts said.

New York's main contract, light sweet crude for January delivery, jumped $US1.09 to $US78.37 a barrel.

Brent North Sea crude for January delivery gained 86 cents to $US79.33 a barrel.

COMEX

Gold for February delivery settled up $US17.90 at $US1,200.20 per fine ounce.

March silver rose 68.5 cents to $19.210 an ounce, and March copper futures added 5.4 cents to $US3.2310 a pound.

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