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Oil prices on the rise

Crude oil prices passed the $64 a barrel level today due apprehension on the part of investors and slipping petroleum supplies. In morning trading on the New York Mercantile Exchange, crude climbed 56 cents, to $64.64, breaching levels not seen since September, according to Forbes.com.
The Web site cited mounting tension between Iran and the United Kingdom over the seizure of British naval personnel and the report by the Energy Department which showed that crude oil inventories slipped by 900,000 barrels last week to 328.4 million barrels. Stocks of gasoline and distillate fuel, which include heating oil and diesel fuel, also fell.

Posted by   at 11:51 AM to Oil | Permalink

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