Crude opens at highest level of 2007 on Iran fears

Crude-oil futures rose to their highest level in 2007 so far at the open Wednesday as concerns about the mounting tensions between Iran and the U.K. ignited concerns about supply risk. Crude for May delivery was up $1.35, or 2.1%, at $64.28 a barrel. The contract spiked to a 6-month high of $68.09 in after-hours trading Tuesday, more than $5 above the floor session close, as a rumor circulated that Iran had attacked a U.S. ship that was engaged in war games in the Persian Gulf.

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- Posted: 2007-03-28 10:25:03

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