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Oil Climbs for Third Day on Greece Outlook, Iran Tension

Oil advanced for a third day in New York on signs that voters in Greece may back austerity measures needed for a European Union bailout, boosting confidence that the bloc’s debt crisis can be contained.

Futures gained after Greece’s New Democracy party, which supports the bailout plan agreed to with international lenders, was placed first in six opinion polls. Crude has slipped 13 percent this month amid concern that Europe’s turmoil will curb fuel demand. Prices climbed on May 25 after the United Nations said Iran boosted its output of enriched uranium. The nation faces an oil embargo starting July because of its nuclear program.