Crude Up Again: NYMEX, London IPE

Crude futures rose in New York Thursday, after the break of Iraq's oil exports, and the danger of a strike in Norway by oil union workers add fuel to the fire.
Crude futures for July delivery rose by $1.14 to settle at $38.46 at the New York Mercantile Exchange. Meanwhile, at International Petroleum Exchange in London Brent crude futures for August delivery rose by $1.01 to close at $36.21.
Pipeline blasts in the Iraq disrupted the country's oil exports. The repairs could take weeks.
Traders had initially shrugged off those events, hoping that OPEC would cover any supply shortfall arising from the disruption. But some analysts said that OPEC could make up for the loss of Iraqi oil for a little.