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Price of Oil Hits $100 a Barrel

The price for a barrel of oil rose above 100 dollars Friday amid concerns over instability in Libya and South Sudan, plus a growing U.S. demand for fuel. Fighting in South Sudan and erratic oil production in Libya are having a ripple effect on the global oil market. John Kingston, director of news for Platts, a leading energy information company, said, “The big, broad, fundamental picture does look like there’s more oil on the world [market] than is necessary. But you continue to...

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