crude oil prices and analysis january 27 2012

crude oil prices and analysis january 27 2012 : U.S. benchmark oil futures were slightly higher but largely rangebound in Asia Friday as market participants weighed Iran's latest threat to disrupt oil supplies and a firmer dollar due to renewed concerns about the European debt crisis.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in March struggled to extend yesterday's gain after closing at a one-week high. The March contract traded at $99.77 a barrel at 0552 GMT, up $0.07 in the Globex electronic session.

March Brent crude on London's ICE Futures exchange rose $0.16 to $110.95 a barrel.

Oil prices rallied Thursday after Iran threatened an immediate halt to crude exports to the European Union in response to the EU's planned embargo of Iranian oil. However, prices fell after the chief of the International Energy Agency later said there was no need to release emergency reserves now.

Iran's parliament is expected to discuss the embargo at its first open session Sunday. For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today

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