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COLUMBUS, Ohio — Oil prices moved higher Tuesday to levels some traders interpreted as a sign that energy demand may have bottomed out.
Benchmark crude for April delivery rose $1.81 a barrel to settle at $49.16 on the New York Mercantile Exchange.
Signs of stable demand and the upcoming summer driving season play “into the psychology of the past of couple of days that the worst is over,” said Phil Flynn of Alaron Trading.
