Crude price at 3-week high prior to meetings

The April contract for benchmark US light, sweet crudes opened at a 3-week high of $63.67/bbl Mar. 6 on the New York Mercantile Exchange as traders prepared for a week of political and economic meetings that could affect future energy supplies.The most important scheduled event was the Mar. 6 report by the International Atomic Energy Agency to the 35-member United Nations Security Council on the unsuccessful, months-long effort to get Iran to suspend its nuclear energy research. Many specialists fear the program is a covert effort to develop nuclear weapons.Energy markets opened the week expecting the UN to impose sanctions on Iran in a move that might trigger a retaliatory reduction of c...

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