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    Oil futures close quarter with 4 percent gain

    From OGFJ staff and wire reports

    Crude oil futures ended moderately higher on March 30 – sufficient to send first-quarter 2012 gains to 4.2%. Crude for May delivery rose 24 cents (0.2%) to settle at $103.02 a barrel on the New York Mercantile Exchange, ending a three-day losing streak for oil futures. The gains for the quarter followed a 25% increase in the fourth quarter of 2011, and a rise of of 8.2% for 2011.

    At the close of the day on March 30, Brent crude oil was trading at $122.39, a 15% premium over West Texas Intermediate.

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