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24-Feb-2011 12:00 PM

Oil prices touch USD100 per barrel in New York

Oil surged to USD100 per barrel in New York for the first time in two years on continued violence in Libya (Bloomberg, 24-Feb-2011). Crude for Apr-2011 delivery increased 2.8% to settle at USD98.10 on the New York Mercantile Exchange on 23-Feb-2011 after reaching an intra-day high of USD1000, the highest level since 02-Oct-2008.