Nymex Crude Oil Higher As Unrest Spreads To Iran

NEW YORK (Dow Jones)–Crude-oil futures moved higher Tuesday after an opposition website in Iran reported growing violence amid Tehran protests, as Middle East unrest spreads.

Light, sweet crude oil for April delivery recently traded $1.34, or 1.4%, higher at $98.31 a barrel on the New York Mercantile Exchange. Brent crude oil on the ICE futures exchange traded $1.75 higher at $113.55 a barrel.

Oil markets focused on reports of increasing violence in Libya and other areas of the Middle East, with unrest in Iran gaining attention. Iranian security forces fired tear gas in clashes Tuesday with protesters demanding the release of opposition leaders, an opposition website reported.

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