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Oil and natural gas end the week higher

Published on NewsOK Modified: March 15, 2013 at 2:57 pm •  Published: March 15, 2013

Experts said Brent's rise was due partly to reports of lower oil exports from Iran — which is enduring sanctions from Western powers because of its nuclear program — and expectations about aggravated geopolitical tensions in the Middle East related to the upcoming visit to Israel by President Barack Obama.

A weaker dollar was also supporting oil prices, making crude cheaper for traders using other currencies. On Friday the euro was up at $1.3057 from $1.3010 late Thursday.

At the pump, the average price for gas dipped to $3.695 a gallon. That's about 12 cents cheaper than a year ago,

In other energy futures trading on the Nymex:

— Wholesale gasoline added 2 cents to end at $3.16 a gallon.

— Heating oil rose 1 cent to finish at $2.94 a gallon.


Pamela Sampson in Bangkok and Pablo Gorondi in Budapest contributed to this report.