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You are here: Home / Oil Jumps to $102 a Barrel Amid Rising Rising Tensions in Iran
Oil Jumps to $102 a Barrel Amid Rising Rising Tensions in Iran
December 5, 2011
NEW YORK, December 5 (FinanceEnquiry.com) - Oil price rose to $102 a barrel in Asia, as tension among Iran and Western powers increase along with improving signs of US economy.
Brent crude rose by 45 cents to reach $110.39 on the ICE futures exchange, while benchmark crude for January delivery gained 64 cents to reach $101.60 a barrel during late afternoon in Singapore time on the New York Mercantile Exchange. On Friday, the contract was up and settled at $100.96. Crude has gained $75 in last two months with signs indicating US economy will probably avoid another recession. Moreover, Investors are encouraged by Labor Department
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