Economics
Oil Advances as North Korea, Iran Bolster Geopolitical Tension
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Oil rose on concern that geopolitical tension will increase as a son of Kim Jong Il took power in North Korea and the U.S. and its allies prepared to discuss stronger measures against Iran.
Futures advanced 0.4 percent after the official Korean Central News Agency said Kim Jong Un will lead the nuclear-armed nation after the death of his father, Kim Jong Il, on Dec. 17. Gulf Cooperation Council leaders arrived in Riyadh, Saudi Arabia, today for a two-day meeting that may focus on actions needed against Iran.