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Brent rises more than $1 after Kuwait halts exports on weather

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By Shoaib Ur Rehman
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SINGAPORE: Brent crude rose more than $1 on Wednesday to stand above $122 a barrel after OPEC member Kuwait temporarily halted oil export operations because of to bad weather.

"The market is still feeling bullish as there were some disruptions to oil supplies from Kuwait," said Serene Lim, an analyst with ANZ. "Traders could also be buying on dips."

ICE Brent crude for May rose $1.18 to $122.10 a barrel after earlier hitting a high of $122.19.

Copyright Reuters, 2011

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