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Crude oil looms toward record high

Petroleum prices are on the rise as growing global demand increases, while one prominent American businessman suggests the cost of crude oil could hit $100 a barrel, according to the Detroit Free Press.

Crude oil prices hit an 11-month high of $75.71 a barrel in after-hours trading Wednesday on the New York Mercantile Exchange. The record for crude is $78.40 a barrel set in July 2006.

Posted by   at 10:47 AM to Oil | Permalink

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