Oil prices climb as Iran stops some Europe exports

AP News
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Posted: Feb 15, 2012 3:51 PM
Oil prices climb as Iran stops some Europe exports

Oil prices climbed to the highest level in five weeks after Iran said it will cut off some crude exports to Europe in retaliation for a planned embargo later this year. Here's a breakdown of how energy contracts traded on Wednesday:

On the New York Mercantile Exchange:

Benchmark crude rose $1.06 to finish at $101.80 per barrel.

Gasoline rose 2.42 cents to end at $3.0067 per gallon.

Heating oil rose 2.68 cents to finish at $3.1916 per gallon.

Natural gas fell 10.7 cents to end at $2.425 per 1,000 cubic feet.

On the ICE Futures exchange in London:

Brent crude rose $1.58 to finish at $118.93 per barrel.