Concerns over disruption of Iraqi oil supply; Crude prices cross $107-per barrel
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  • Crude oil prices at New York fell after concerns over disruption in Iraqi oil supply due to a pipeline fire in the southern city of Basra ceased. Crude oil for May delivery fell 1.4 percent by as much as $1.50 to $106.08 a barrel, and traded at $106.66. Iraqi Prime Minister Nuri al-Maliki on his part pledged to continue the crackdown on Shiite militias in Basra1. Oil had gained 1.6 percent on March 27 on account of the blast on the Zubair-1 pipeline. According to an official in Baghdad, the fire at the pipeline was put out before midday local time the same day and the damage was being assessed