News bites: EU set for oil sands battle, Exxon Iraq clash, and more

Bloomberg reports that oil prices are rising again.

“Oil rose to its highest in more than three weeks in New York, reversing earlier declines as concern that tensions with Iran may hinder Middle East exports outweighed debt downgrades for six European nations,” the news service reports.

Reuters looks at the uproar over a glitch that halted electronic trading in oil futures Monday.

Reuters also reports that European Union officials are expected to vote later this month on a draft law that would “label fuel produced from tar sands as more polluting than that from other forms of oil.”

The Wall Street Journal reports that Exxon will be barred from Iraq’s next auction of licenses for oil-and-gas exploration blocks.