Crude oil closed at $66.07 per barrel today on the New York Mercantile Exchange.  Reasons cited for this increase of almost $2 per barrel included technical buying at the month’s end, continuing jitters over oil supply disruptions in Nigeria, and unrest in Iran.  Factors also affecting the increase were a possible strike of Norwegian oil workers and jitters over the upcoming hurricane season.

An increase in demand was also cited as a reason for the price gain in crude oil.  It seems likely that this is perhaps the primary factor, as all the other factors were on the table before today.

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