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/ 19 October 2007
Oil prices have surpassed a barrel for the first time as the falling dollar drew new foreign investors and speculators to dollar-denominated energy futures. Light, sweet crude for November delivery hit ,02 in electronic trading late on Thursday evening before returning to about ,60.
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/ 15 October 2007
Oil prices surged above a barrel on Monday for the first time after the Organisation of the Petroleum Exporting Countries (Opec) said crude production by non-Opec countries is falling even as global demand for oil is rising. Prices were also supported by concerns Turkish forces will pursue Kurdish rebels into Iraq.