Oil Rises Over $107 Following Iran Report


3/23/2012 12:00:00 PM
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Oil rose almost $2 to more than $107 a barrel Friday following a report that Iranian crude exports may drop due to sanctions, Bloomberg reported.

Crude futures slid almost $2 on Thursday to finish the trading day at $105.35 a barrel on the New York Mercantile Exchange, the lowest closing price in more than two weeks.

Oil briefly topped $108 Friday following the Iran report, which cited a European consultant, Bloomberg reported.

Diesel and gasoline prices have jumped sharply in the past two months, with diesel over $4 a gallon and gasoline approaching that level.

The Department of Energy will release its weekly survey of filling stations Monday afternoon in Washington.

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