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Oil Futures Jump on Dollar, Fed Forecast

NEW YORK -- Oil prices resumed their march toward $100 Tuesday, rising to records over $98 a barrel as futures drew strength from a declining dollar, news of refinery problems and speculation that the Federal Reserve will again cut interest rates, according to the Associated Press.
Heating oil futures also rose to new records. Gasoline prices, meanwhile, extended their decline at the pump.

Posted by Peter C. T. Elsworth  at 4:37 PM to Crude oil market | Permalink

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