NEW YORK: Oil nearly reached $100 a barrel for the first time this year, as traders worried about disruptions to Mideast supplies while anticipating an increase in oil demand in the US.
US benchmark crude for August delivery gained $1.61, or 1.6 per cent, to close at $99.60 a barrel in New York after rising as high as $99.87. Oil last crossed $100 a barrel on Sept 14 of last year.
In London, Brent crude rose $1 to finish at $104 a barrel on the ICE Futures exchange.
US benchmark crude for August delivery gained $1.61, or 1.6 per cent, to close at $99.60 a barrel in New York after rising as high as $99.87. Oil last crossed $100 a barrel on Sept 14 of last year.
In London, Brent crude rose $1 to finish at $104 a barrel on the ICE Futures exchange.
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