Wednesday, January 02, 2008

Oil at $100 a barrel: Happy New Year!

Crude-oil futures surged more than $4 a barrel and hit $100 on Wednesday on expectations U.S. crude inventories fell for a seventh consecutive week and on concerns violence in Nigeria may cut output from Africa's biggest oil producer.
Crude for February delivery rallied $4.02 to $100 a barrel on the New York Mercantile Exchange in early afternoon trading.


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