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Oil on rise amid jitters over hot-spots
15.07.08
The oil price was on the rise again today, with US crude topping $146 in the wake of the plunging dollar and lingering threats of supply disruptions due to hot-spots Nigeria, Brazil and Iran.
Traders remain nervous about Nigeria especially, where militants have abandoned a ceasefire, threatening to block oil from leaving the region.
Tensions between Israel and Iran also weigh heavily, suggesting there is little hope in the oil price falling any time soon.
In London, Brent crude was up $1.48 at $145.40 while US crude, rose 13 cents to $146.31.
