cost of oil

Oil Near $106 as US Denies Plan to Release Crude

Oil prices rose slightly to near $106 a barrel Friday in Asia after the U.S. denied reports it and Britain plan to release some their strategic crude reserves. Benchmark oil for April delivery was up 40 cents to $105.51 at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract fell 32 cents to settle at $105.11 per barrel in New York on Thursday. Brent crude for May delivery was up 55 cents at $123.15 per barrel in London.