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Oil flirts with $127

Published May 16, 2008
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LONDON, May 15: Oil prices flirted with record levels close to $127 per barrel in volatile trade on Thursday amid widespread fears over stretched global energy supplies, traders said.

New York’s main oil futures contract, light sweet crude for June delivery, jumped $1.10 to $125.32, after earlier spiking to $126.64 which was not far off Tuesday’s record high of $126.98.—AFP

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