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Oil Prices Pass $61 a Barrel

Posted on: Thursday, 7 July 2005, 09:00 CDT

Oil prices hit a record $61.35 a barrel in New York yesterday as traders worried tropical storms in the Gulf of Mexico would hurt production

. In London, Brent rose $1.57 cents to end at a record $59.86. Analysts warned the early start to the hurricane season could foreshadow an unusually active season.

Source: Independent, The; London (UK)

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