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Middle East tensions push oil prices

NEW YORK, July 8 (UPI) -- Crude oil prices in New York settled slightly Monday morning, easing back to $102.83 per barrel from an earlier peak of $103.22.

Prices soared to a 14-month high during the weekend, as political tension in Egypt continued to shake confidence in consistent supplies from the Middle East.

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In price movement Monday, reformulated blendstock gasoline lost 2.06 cents to $2.8762 per gallon. Home heating oil shed 1.47 cents to reach $2.975 per gallon.

Natural gas added 11.2 cents to $3.729 per million British thermal units.

At the pump, the average price for a gallon of unleaded regular gasoline was $3.474, unchanged from Sunday and down slightly from $3.487 a week ago, the AAA Fuel Gauge report said.

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