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The price of oil is has surged more than 15 percent in the last three months on concern that civil war in Syria and unrest in Egypt could disrupt production and exports, especially in Libya and Iraq. The threat of spreading violence could block important supply routes. "The political uncertainty across Middle East has dominated the oil market in the last few months," said a report from Sucden Financial Research in London. Brent crude, the benchmark for international crudes, was up $3.11 to $114.28 a barrel on the ICE Futures exchange in London. In other energy futures trading on Nymex: Heating oil added 8 cents to $3.17 per gallon. Natural gas rose 2 cents to $3.57 per 1,000 cubic feet. Wholesale gasoline rose 8 cents to $2.91 per gallon.
[Associated
Press;
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