Oil up over 1% on report of drop in Iran exports * *PIC*

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Oil up over 1% on report of drop in Iran exports ( CLK2 ) (by Myra P. Saefong)

SAN FRANCISCO (MarketWatch) -- Oil futures tacked on 1.5% Friday, buoyed by a report that said Iranian oil exports have fallen this month. Oil exports from Iran appear to have fallen in March by around 300,000 barrels per day, or 14%, according to a report from Reuters. May crude (clk2) traded at $106.87 a barrel on the New York Mercantile Exchange, up $1.52. Prices posted only modest gains before the report was released.

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