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Oil gained for a third day on concern that tension in the Middle East will disrupt supplies and as the euro rose to a four-month high against the dollar.
Oil climbed as much as 0.4 percent as the U.S. Embassy in Lebanon said it received reports indicating a greater possibility of attacks against U.S. citizens. The dollar fell against the euro, increasing oil’s appeal as an investment alternative. Crude rose 2.7 percent last week as the Fed pledged to start a third round of quantitative easing.
Oil for October delivery traded in the range of $98,56 - $99,52 on the New York Mercantile Exchange. The contract rose to $99 on Sept. 14, the highest settlement since May 3. Prices are up 0.5 percent this year.
Brent for November settlement fell 35 cents to $116.31 a barrel on the London-based ICE Futures Europe exchange.
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