Oil prices going up

MGN Online Photo
Wednesday, July 3, 2013 - 9:57am

Oil prices are going up.They hit 102 dollars and 18 cents a barrel early today (Wednesday). That's the highest the price has been in over a year.

The recent protests in Egypt are partially to blame. Traders fear tensions there could spread to the broader middle east. Traders say an improving economy and a rise in demand for crude may also be playing a role in the increase.

Oil prices have risen about 16 percent in the last two months.


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