Oil hovers above $101 in Asia as traders eye Iran threat to cut exports if more sanctions

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SINGAPORE — Oil prices hovered above $101 a barrel amid investor concern that rising Middle East tensions could disrupt crude supplies.

Benchmark crude for February delivery fell 12 cents to $101.22 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose $1.66 to settle at $101.34 in New York on Tuesday.

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Greg Miller 29 Dec, 2011
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Source: http://feeds.washingtonpost.com/click.phdo?i=22c81324d1f1005996482b9462403eb8
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