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Investors will be closely watching a slew of corporate earnings reports this week for clues about the strength of the U.S. and global economies. Walt Disney, Coca-Cola, and Cisco Systems are scheduled to announce fourth quarter results this week. Escalating tensions over Iran's nuclear program, including concerns that a military attack by Israel against the Islamic Republic could be imminent, kept a floor under prices, especially Brent as Iran is a key supplier for several European countries. "Brent seems to be more sensitive to tensions regarding the European oil embargo, Israeli-Iranian political tensions and continued protests in Egypt," said The Schork Report from U.S. analyst and trader Stephen Schork, who noted that Brent has risen over 4 percent Jan. 20 while the benchmark Nymex contract is nearly flat. In other energy trading, heating oil was down 0.04 cent at $3.1140 per gallon and gasoline futures fell 1.41 cents to $2.9003 per gallon. Natural gas rose 3.7 cents to $2.536 per 1,000 cubic feet.
[Associated
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