July 16, 2012 / 3:43 PM / 5 years ago

Brent Aug crude up $1 approaching expiration

NEW YORK, July 16 (Reuters) - Expiring August Brent crude futures rose more than $1 on Monday, supported by hopes for economic stimulus to bolster a sputtering global economy and on recent North Sea supply problems and ongoing concerns about Iran.

Brent crude, with the August contract expiring at the end of Monday's session, was up 75 cents at $103.15 a barrel at 11:37 a.m. EDT (1537 GMT), having traded from $102.07 to $103.60. (Reporting by Robert Gibbons; Editing by David Gregorio)

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