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Energy prices climb
04/21/2008
The front-month contract for benchmark US crudes jumped past $112/bbl Apr. 9 following a report that inventories of crude, gasoline, and distillate fuel fell to unexpectedly low levels in the week ended Apr. 4.The May contract for US sweet, light crudes hit an intraday high of $112.21/bbl before closing at a record $110.87/bbl on the New York Mercantile Exchange. Heating oil and the May IPE contract for North Sea Brent crude also hit new highs in intraday trade as did the April gas oil contract in London.Prices slipped in the Apr. 10 session but remained near record highs, with markets still concerned about tight supplies and the weak US dollar. Crude prices were essentially flat Apr. 11 ...
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