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US stocks slide on Iran concerns
06/05/2006
Stocks tumbled in early trading Monday as crude futures raced higher on Iran's threat to cut its oil exports if Western nations punish or attack the country over its nuclear arms program. The warning unnerved an energy market already concerned about the chance that another severe hurricane season could devastate Gulf Coast refineries again. A barrel of light crude jumped $1.02 to $73.35 on the New York Mercantile Exchange.
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