Oil Up to Near $93 as Cyprus Uncertainty Lingers
From US News
By Pablo Gorondi
The price of oil inched up closer to $93 a barrel Friday after a big slide the day before as the financial crisis in Cyprus kept traders on edge.
By early afternoon in Europe, benchmark oil for May delivery was up 35 cents to $92.81 a barrel in electronic trading on the New York Mercantile Exchange. The contract shed 1 percent on Thursday, falling $1.05 to finish at $92.45.
The European Central Bank has threatened to end emergency support of Cyprus’s banks next week unless leaders there can secure more funding.
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