Oil hits two-year high

CRUDE future soared to a two-year high on the back of strong US economic data and the European Central Bank extending its emergency support for banks and government debt markets.

Oil hits two-year high Oil hits two-year high Oil hits two-year high Oil hits two-year high Oil hits two-year high

Light sweet crude for January delivery was up $US1.25 to $88 a barrel, the highest settlement since October 8, 2008.

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