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OIL PRICES RISE AS U.N. REFUSES TO HELP IRAQ

World oil prices rose another notch Friday on uncertainty as to when Iraq will resume oil exports after talks with the U.N. Security Council about lifting sanctions proved unfruitful for Baghdad.

"There's uncertainty in the market as to where things go from here, but the longer it takes for Iraq to get back into the picture the better it will be for oil prices," said Joe Miller, first vice president of energy futures at Shearson Lehman Brothers Inc. in New York.Oil prices have been sagging because of a glut in the global oil market and a decline in demand.

Iraqi officials, who met with the 15-nation Security Council Wednesday and Thursday, were unable to persuade the body their country had complied with a cease-fire agreement, and specifically the elimination of weapons of mass destruction. If Baghdad had honored its agreement, sanctions would have been lifted.