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Crude problems in Iran and Nigeria push prices higher

CONFLICT in two major oil exporting nations – Iran and Nigeria – pushed oil prices to four-month highs this week, with several major indexes peaking on Wednesday and West Texas Crude nudging US$67 a barrel. Prices then eased on profit-taking and forecasts of mild winter weather in the northeastern US, but still ended the week at above $US65 dollars a barrel.

Crude problems in Iran and Nigeria push prices higher

Tokyo, which is experiencing an extremely cold winter and imports much of its oil from Iran, actually reached an all-time record high oil price this week. On Tuesday, the price of oil on the New...

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