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Oil Prices Rise Above $82 a Barrel

SINGAPORE -- Oil prices rose Wednesday above the previous session's record close, lifted by expectations the interest rate cut by the U.S. Federal Reserve will accelerate growth and increase demand for already tight crude and gasoline supplies, aaccording to the Associated Press.
Light, sweet crude for October delivery added 66 cents to $82.17 a barrel in Asian electronic trading on the New York Mercantile Exchange by midafternoon in Singapore.

Posted by Peter C. T. Elsworth  at 9:33 AM to Crude oil market | Permalink

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