Oil jumps on fears of new Iran sanctions, Iraq conflict:
"Oil markets jumped on Monday on concerns over potential renewed U.S. sanctions against Iran as well as conflict in Iraq, while an explosion at a U.S. oil rig and reduced exploration activity supported prices there.
International Brent crude futures LCOc1 were at $57.82 at 0645 GMT, up 65 cents, or 1.1 percent, from the previous close.
Prices were being pushed up by worries over renewed U.S. sanctions against Iran. "
'via Blog this'
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