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Light crude up to $70.40
- Saudi Arabia: Monday, May 08 - 2006 at 12:19
Oil prices have risen this morning in Asian trading as the tensions surrounding the Iran nuclear issue continue to have an effect, according to TradeArabia. By 0441am GMT, US light crude was up 21 cents at $70.40 a barrel, while Brent crude had risen 16 cents to $71.11 a barrel. Possible oil royalty and tax increases in Venezuela are also stoking prices.
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