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Oil rises past $103 on geopolitical turmoil

By The Associated Press
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The price of oil rose 2 percent Thursday on lower U.S. inventories and concerns that geopolitical tensions could disrupt global supplies.

Benchmark U.S. crude for August delivery rose $1.99 to close at $103.19 a barrel on the New York Mercantile Exchange. On Wednesday, the Nymex contract added $1.24 to close at $101.20.

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