New York, NY, May 31, 2011 — Oil prices rose above $102 a barrel Tuesday the U.S. dollar weakened and traders worried about turmoil in Libya and the Middle East.
By early afternoon in Europe, benchmark oil for July delivery was up $1.81 to $102.40 a barrel in electronic trading on the New York Mercantile Exchange.
Crude has risen from $96 last week amid a depreciating U.S. currency.
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