Oil price rises as dollar softens

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by Laura Matovina

Story Created: Sep 4, 2012 at 4:50 AM CDT

Story Updated: Sep 4, 2012

BANGKOK (AP) -- A weaker dollar boosted oil prices Tuesday even as a resumption of refinery operations in the Gulf of Mexico in the aftermath of Hurricane Isaac eased concerns over supply disruptions.

Benchmark crude for October delivery was up 79 cents to $97.26 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract rose $1.85 to finish at $96.47 Friday. There was no closing price Monday because of a public holiday in the U.S.

Brent crude was up 15 cents at $115.93 on the ICE Futures exchange in London.

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