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Oil tops $129 for first time, heads for $130
Oil prices spiked a new trading high Tuesday, sweeping past
$129 a barrel as supply concerns intensified the momentum
buying that has lifted crude deeper into record territory.
The June contract for light, sweet crude traded as high as
$129.31 in electronic pre-opening trading on the New York
Mercantile Exchange before settling back to $128.75, up $1.70.
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