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Jul 5, 2013 7:46 AM by Lacey Steele

Crude Oil Prices Rise

Crude oil prices shot up over $100 a barrel this week for the first time in more than a year.

USA Today reports the price is going up because of concern about the political crisis in Egypt.

Although Egypt is not a major oil producer, it controls the Suez Canal raising fears of a supply disruption.

The concern is if oil stays above $100 a barrel it could cause gasoline prices to rise.

 

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