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NEW YORK (AP) - Oil and gas futures rose Monday as reports of new refinery outages countered news that Nigerian labor unions ended a strike over the weekend.
Analysts said traders started buying after hearing of problems at two refineries over the weekend, which revived concerns about domestic gasoline supplies. Oil had started the day dropping more than $1 a barrel and pulling other energy futures lower in response to the strike's end.
Light, sweet crude for August delivery rose 4 cents to settle at $69.18 a barrel on the New York Mercantile Exchange, while gasoline for July added 1.59 cents to settle at $2.3025 a gallon. August Brent crude rose 18 cents to settle at $71.36 a barrel on the ICE Futures exchange in London.
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