Crude up over $1, gets a lift from equities

Wed Apr 25, 2012 1:49pm EDT
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NEW YORK (Reuters) - Crude oil futures shifted higher on Wednesday, lifted by a rally on Wall Street, erasing earlier losses from a big increase in crude oil inventories and a report that Iran may be considering halting its nuclear program.

NYMEX crude for June delivery hit a session high of $104.57 a barrel, up $1.02, or 0.99 percent. By 1:39 p.m. EDT (1739 GMT), it was up 88 cents, or 0.85 percent, at $104.43.

(Reporting By Gene Ramos)