By Richard Valdmanis 34 minutes ago NEW YORK (Reuters) - Oil prices rose 5 percent on Thursday, the biggest gain in more than two months, amid rising global tensions and a weak U.S. dollar.U.S. crude gained $6.00, or 5.19 percent, to $121.56 a barrel by 11 a.m. EDT, the biggest percentage gain since June 6. London Brent crude climbed $6.11 to $120.47.
"There's a myriad of geopolitical factors rumbling in the background -- Russia, Iran," said Tony Machacek, broker at Bache Commodities Ltd. "Also, the dollar is weaker."
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