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Intermediate crude climbed to the highest level in nine months on concern that
tension in the
headed for a second weekly gain after President Barack Obama was said to
authorize lethal military aid to rebel groups in
authorizing the provision of small arms and ammunition to the Syrian opposition
under a classified order instructing the Central Intelligence Agency to arrange
delivery of the weapons, according to a
decision to arm the opposition was prompted by rebel losses rather than by the
Iranians went to the polls today to choose a successor to President Mahmoud Ahmadinejad who may determine whether the international isolation of world’s fourth-largest oil-reserve holder will continue. Voting was extended by three hours to 9 p.m. local time, state-run Press TV reported.
WTI for July delivery climbed 92 cents, or 1 percent, to $97.61 a barrel at 11:47 a.m. on the New York Mercantile Exchange. It touched $98.25, the most since Sept. 17, breaching the prior 2013 high of $98.24 on Jan. 30. The volume of all futures traded was 42 percent above the 100-day average. Prices are up 1.9 percent this week.
Brent for August settlement increased $1.01, or 1 percent, to $105.96 a barrel on the London-based ICE Futures Europe exchange. Volume was 17 percent below the 100-day average for the time of day.
Brent’s premium to WTI for August delivery widened to as much as $8.32 from yesterday’s $7.56 based on July contracts.
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