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Concerns Over Nigeria Contribute to Rising Oil Prices

April 23, 2007

NEW YORK --- Persistent concerns over Nigeria's political climate and the oil-producing country's potential for post-election violence continue to help raise oil prices. Though the election was mostly peaceful, traders continued to express worries. In addition, there is talk about a refinery workers strike in Belgium. According to the Associated Press, light, sweet crude for June delivery climbed 58 cents to reach $64.69 a barrel in trading on the New York Mercantile Exchange today.
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