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Kuwait Official Says Political Strains Impact Oil, Kuna Reports

Political uncertainty in the Middle East and North Africa is contributing to volatility in oil prices, Kuwait’s state run news agency KUNA reported today, citing an official at Kuwait Petroleum Corp.

Europe’s debt crisis is adding to uncertainty in the oil market, Nasser al-Mudhaf, managing director of international marketing at the country’s national oil company, was quoted by Kuna as saying. Japan’s demand for hydrocarbons is expected to rise next year, according to the news agency.

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