Oil Prices Up on Iraq Election Worries

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Crude oil futures prices rose Thursday as traders braced for potential disruptions ahead of Iraq’s elections on Sunday or a possible supply cut from OPEC ministers meeting the same day.


Light, sweet crude for March delivery rose 57 cents to $49.35 a barrel on the New York Mercantile Exchange. February heating oil was up 1.77 cent at $1.4210 a gallon.


Brent for March delivery rose 41 cents to $46.92 a barrel on the International Petroleum Exchange in London.


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