Renewed tensions between the west and Iran and the threat of a complete shutdown of Norwegian offshore production boosted prices back over $100/bl. Atlantic basin benchmark North Sea Dated rose by $10.40/bl to $101.64/bl in the week to 5 July, a five-week high and the largest weekly jump since May 2008. US marker August WTI climbed by $9.53/bl to $87.22/bl.
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