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Oil prices rebound above $103 on geopolitical risk

By Pablo Gorondi
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Oil prices rebounded slightly on Monday as traders gauged the possibility of more sanctions against Russia and more violence in Libya.

By mid-afternoon in Europe, benchmark U.S. crude for August delivery was up 45 cents to $103.58 a barrel in electronic trading on the New York Mercantile Exchange. On Friday, the Nymex contract fell 6 cents to $103.13.

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