U.S. oil rebounds as Cyprus worries dwindle

The U.S. oil price pared early losses and gained on Monday as concerns over the bailout plan for Cyprus eased. 

Oil prices opened sharply lower on Monday, impacted by Cyprus' plan to vote on a one-off levy on bank deposits as part of a financial bailout.Vintage bath fixtures The proposal must be passed by the country's parliament, and the vote has been postponed until Tuesday. 

Traders worried that authorities might go after depositors in other eurozone countries, prompting cash withdrawals from banks and capital flight from weaker European economies. 

The Asian and European stock markets fell sharply on Monday, but oil prices managed to recover most of the early losses. 

Oil gained support from signs of continued U.S.In order to make this place amazing and full of high end Crushing plant, home owners spend a good amount of money and always look for some of the best tools, equipment and home appliances. economy recovery,China 4x4 Accessories wholesalers which is expected to boost future oil demand. The U.S. jobless rate in February fell to a four-year low of 7.7 percent. 

The oil prices were also underpinned by rate decisions from major central banks. The U.How efficient and environmentally friendly processing prepreg production is important part of the mobile artificial aggregate processing system will be greatly reduced as the traditional manual excavation of sand and gravel processing system.S. Federal Reserve has pledged to continue to buy bonds, while the European Central Bank has kept its key interest rates at the lowest level. 

Light, sweet crude for April delivery rose 29 cents, or 0.31 percent, to settle at 93.74 dollars a barrel on the New York Mercantile Exchange. 

Brent crude for April delivery fell 31 cents, or 0.28 percent,Are you looking for ways to add style to your Symons cone crusher? What is it about branded kitchen accessories that make it so classy? A kitchen is not only a place for cooking. to close at 109.51 dollars a barrel.