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Crude Oil Prices Rose on Arabian Storm Forecasts

Oil prices rose Wednesday, June 6th amid forecasts that the strongest storm to hit the Arabian Peninsula in 60 years was barreling toward Iran, a major oil producer, and the oil-rich Persian Gulf.

US light, sweet crude for July delivery added 23 cents to $65.84 a barrel in Asian electronic trading on the New York Mercantile Exchange, midmorning in Singapore.

The contract fell 60 cents to settle at $65.61 a barrel Tuesday, June 5th. -Neftegaz.ru

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