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Oil Declines in New York After China Lowers Growth Goal

March 5 (Bloomberg) -- Oil rose amid tension over Iran’s nuclear program and speculation about a possible military strike by the U.S. or Israel.

Crude oil for April delivery increased 58 cents, or 0.5 percent, to $107.28 a barrel at 8:15 a.m. on the New York Mercantile Exchange. Futures have traded as low as $105.50 a barrel and as high as $107.29 on the exchange today.

To contact the reporter on this story: Mark Shenk in New York at mshenk1@bloomberg.net

To contact the editor responsible for this story: Margot Habiby at mhabiby@bloomberg.net

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