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Oil rises to four-week high, 3 pct. gain for May

KDWN

The price of oil hovered above $102 a barrel Tuesday as the threat of further violence in Libya threw into question the country’s ability to ramp up its crude exports.

Benchmark U.S. crude for July delivery was up 18 cents to $102.29 a barrel at 0640 GMT in electronic trading on the New York Mercantile Exchange. The Nymex contract for June rose 12 cents to settle at $102.73 on Monday, its last day of trading.

Brent crude, a benchmark for international oil, added 23 cents to $109.60 on the ICE exchange in London.

A revolt by a rogue general has split the Islamists that dominate Libya’s politics and risks an outright battle for power that could fragment the country, which has Africa’s largest proven reserves of crude. Libya was a key supplier of crude to European refineries but has been struggling to stabilize oil output and exports since dictator Moammar Gadhafi was ousted in 2011.

In other energy futures trading in New York:

- Wholesale gasoline rose 0.2 cent to $2.951 a gallon.

- Natural gas added 1 cent to $4.48 per 1,000 cubic feet.

- Heating oil gained 0.4 cent to $2.941 a gallon.

Oil rises to four-week high, 3 pct. gain for May

KDWN

The price of oil rose to a four-week high Monday, bringing its gain for the month of May to almost 3 percent.

Benchmark U.S. crude for June delivery fell 59 cents to $102.61 a barrel on the New York Mercantile Exchange. Oil has risen by $2.87, or 2.9 percent, since the start of the month.

Brent crude for July delivery, a benchmark for international oil, lost 38 cents to $109.37 on the ICE Futures exchange in London.

At the gas pump, the average price of a gallon of gas stood at $3.65, down 2 cents from a month ago and equal to the average price at this time last year.

In other energy futures trading in New York:

- Wholesale gasoline fell 1 cent to $2.96 a gallon.

- Natural gas added 6 cents to $4.47 per 1,000 cubic feet.

- Heating oil fell 1 cent to $2.94 a gallon.

Oil rises to four-week high, 3 pct. gain for May

KDWN

The price of oil rose to a four-week high Monday, bringing its gain for the month of May to almost 3 percent.

Benchmark U.S. crude for June delivery fell 59 cents to $102.61 a barrel on the New York Mercantile Exchange. Oil has risen by $2.87, or 2.9 percent, since the start of the month.

Brent crude for July delivery, a benchmark for international oil, lost 38 cents to $109.37 on the ICE Futures exchange in London.

At the gas pump, the average price of a gallon of gas stood at $3.65, down 2 cents from a month ago and equal to the average price at this time last year.

In other energy futures trading in New York:

- Wholesale gasoline fell 1 cent to $2.96 a gallon.

- Natural gas added 6 cents to $4.47 per 1,000 cubic feet.

- Heating oil fell 1 cent to $2.94 a gallon.

Oil rises to four-week high, 3 pct. gain for May

KDWN

The price of oil rose to a four-week high Monday, bringing its gain for the month of May to almost 3 percent.

Benchmark U.S. crude for June delivery fell 59 cents to $102.61 a barrel on the New York Mercantile Exchange. Oil has risen by $2.87, or 2.9 percent, since the start of the month.

Brent crude for July delivery, a benchmark for international oil, lost 38 cents to $109.37 on the ICE Futures exchange in London.

At the gas pump, the average price of a gallon of gas stood at $3.65, down 2 cents from a month ago and equal to the average price at this time last year.

In other energy futures trading in New York:

- Wholesale gasoline fell 1 cent to $2.96 a gallon.

- Natural gas added 6 cents to $4.47 per 1,000 cubic feet.

- Heating oil fell 1 cent to $2.94 a gallon.

Oil rises to four-week high, 3 pct. gain for May

KDWN

The price of oil rose to a four-week high Monday, bringing its gain for the month of May to almost 3 percent.

Benchmark U.S. crude for June delivery fell 59 cents to $102.61 a barrel on the New York Mercantile Exchange. Oil has risen by $2.87, or 2.9 percent, since the start of the month.

Brent crude for July delivery, a benchmark for international oil, lost 38 cents to $109.37 on the ICE Futures exchange in London.

At the gas pump, the average price of a gallon of gas stood at $3.65, down 2 cents from a month ago and equal to the average price at this time last year.

In other energy futures trading in New York:

- Wholesale gasoline fell 1 cent to $2.96 a gallon.

- Natural gas added 6 cents to $4.47 per 1,000 cubic feet.

- Heating oil fell 1 cent to $2.94 a gallon.