Oil prices began to rise on Tuesday after BP shut down an oil pipeline in Georgia and continued fighting threatened supplies in the region...
Oil company BP said early Tuesday that it had shut down the Baku-Supsa, which carries 90,000 barrels of oil per day through the embattled nation of Georgia.
Georgia produces very little oil but serves as an important hub for transporting crude and natural gas between Europe and Asia...
A stronger dollar also pushed oil prices lower. The dollar extended its gains against the euro Tuesday amid concerns of weakening European growth...
The average price of retail gas in the U.S. has fallen more than 31 cents to $3.799 a gallon at the pump over the past 26 days. But gas prices remain more than a dollar higher than where they were 12 months ago.
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