Crude prices on Wednesday rose on tension in the Middle East and a weaker dollar against the euro.
Tension between Hamas and Israel intensified after the Palestinian Islamist group claimed Hamas's military chief was killed by an Israeli air strike targeting the Gaza Strip and an Israeli official said the attack on Hamas's top commander was not the end of the assault on the coastal territory and more strikes would follow.
Besides, a series of car bombs killed at least 14 people across Iraq on the eve of a Muslim festival. And unrest in Syria and disputes over Iran's nuclear program lingered, all clouding over oil production and exports in the oil-rich region while pushing up oil prices.
Meanwhile, the dollar weakened against the euro on Wednesday, helping boost oil prices.
Also supportive to oil prices, TransCanada said the loss of power on its Keystone pipeline that carries Canadian crude into the U.S. midwest, had affected the company's oil shipments and would cause supplies delays.
But worries about oil demand outlook weighed and limited gains, as U.S. "fiscal cliff" loomed and international lenders held back from offering further bailout fund to the debt-burdened Greece. - PNA
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