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Oil prices rise with Israel-Syria tensions

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Brent crude futures up in both London and New York

Crude oil futures rose in Monday’s London and New York trading sessions.  (AFP Photo)

Crude oil futures rose in Monday’s London and New York trading sessions.
(AFP Photo)

By Lamia Nabil

Crude oil futures rose in Monday’s London and New York trading sessions.

Brent June contracts were up 48 cents at $104.67 a barrel on London’s ICE futures exchange, and rose 67 cents to trade at $96.28 a barrel on the New York Mercantile Exchange.

“Political risk is back on the map,” Oslo-based Nordea Bank Analyst Thina Saltvedt told Bloomberg. “What’s happening in Syria has got the market’s attention.”

Israel launched airstrikes on the Syrian capital of Damascus on Friday, sparking fears that Syria’s civil war may escalate into a wider regional conflict.


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