Oil jumps on OPEC, Libya comments
12:48 PM Thu, Jun 26, 2008 | Permalink
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NEW YORK -- Oil futures shot up to nearly $139 a barrel Thursday after OPEC's president said oil prices could rise well above $150 a barrel this year and Libya said it may cut oil production, according to the Associated Press. Light, sweet crude for August delivery rose as high as $138.95 a barrel shortly after the New York Mercantile Exchange opened before retreating some to trade up $3.59 at $138.14. 
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