Oil prices rise as supplies drop

Oil prices touched new highs near $105 a barrel today as the US unveiled a surprise drop in supplies.

Thu, 06 Mar, 2008 - 08:57
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Oil prices touched new highs near $105 a barrel today as the US unveiled a surprise drop in supplies.

With producers cartel Opec also vowing yesterday to keep production steady, the price of light, sweet crude for April delivery touched $104.8 in Asian trading.

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