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dow2664 Oil Price Market Trend News Review Today: Oil price trend-line is sloped positively over the last several weeks. Tensions continue to build in the Middle East as Iran continues to feel threatened by imposed sanctions. Other global nations, including the U.S., imposed sanctions on Iran, in part, because of perceived nuclear involvement. Iran continues to disagree and has stated that resources are being utilized for research and energy associated activities. The tensions relating to this ongoing situation is one reason oil prices are climbing the ladder. Iran is even threatening to shut down the Strait of Hormuz to reduce oil shipments as a response. In addition to this action, eurozone debt concerns remain at the forefront and this variable also keeps the price of oil moving higher. On the opening session of this week though, the price of oil finally notched just lower and dropped lower yet again last session. Oil Contract Price Close Gas Price Close Review Today: April contract Crude oil finished the last session in the red by 1.85 percent and closed at 106.55 per barrel. April contract Unleaded gas finished the last session lower by 2.36 percent at 3.22 per gallon. Camillo Zucari
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