Iran tensions push crude oil prices to $64/barrel

March 29, 2007 06:37

Oil prices dipped below $64 a barrel Thursday amid heightened tension in the Middle East as Iran's detention of 15 British navy personnel approached the one-week mark. In electronic trading in Singapore Thursday, light, sweet crude for May delivery fell 8 cents to $64 a barrel on the New York Mercantile Exchange. The contract closed at $64.08 a barrel Wednesday, its highest close since September.

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