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Oil Rises to a Record $75.35 on Concern About Iran, Nigeria |
| Home | April 21 (Bloomberg) - Crude oil rose to a record $75.35 a barrel in New York on concern that shipments from Iran and Nigeria will be disrupted as the U.S. increases output of gasoline for the summer driving season. The dispute over Iran's nuclear program has intensified, increasing the chances of sanctions against the world's fourth- biggest oil producer. Rebel attacks in Nigeria have shut about 20 percent of output in Africa's biggest oil producer. Oil was pulled lower in early trading on speculation that refiners will increase output because of improved profit margins. |