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SINGAPORE (AP) - Crude oil futures briefly rose above $61 a barrel Monday after Iran threatened to restart its nuclear enrichment program, sparking concerns that tension between Tehran and Western nations could disrupt oil supplies from OPEC's second's largest exporter.
Traders were also worried about the impact on supply caused by two U.S. refinery fires late last week at a BP Plc Texas City plant and a Murphy Oil Corp. refinery in Louisiana. Another BP fire at its North Sea oil field, Shiehallion, occured late Friday.
Midmorning in Singapore, light, sweet crude for September delivery rose 28 cents at $60.85 on the New York Mercantile Exchange, after climbing as high as $61.02 in earlier Asian trading. The contract had touched $61.05 on Friday, the highest in more than two weeks, before closing at $60.57, up 63 cents on the day.
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