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Oil hovers above $101 amid rising Iran tensions

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Oil prices hovered above $101 a barrel amid investor concern that rising Middle East tensions could disrupt crude supplies.

 

Benchmark crude for February delivery rose six cents to $101.40 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose $1.66 to settle at $101.34 in New York on Tuesday. (AP)

 

 

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