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Oil Spikes After Headlines About New Mideast Terror Arrests

Matthew Boesler

West Texas Intermediate crude oil futures just made a big move higher, right at 9 AM. It's now trading up 2.6 percent on the day:

News just broke of a foiled terrorist plot in the Middle East:

UAE arrests terrorist cell of Emirati and Saudi Arabian citizens preparing to carry out attacks, state news agency WAM says - @reuters

— Breaking News (@BreakingNews) December 26, 2012

It's unclear whether the two are related, but the timing lines up.

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