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Oil breaks through $US50 mark

OIL closed above $US50 a barrel last night for the first time this year after the US Federal Reserve announced a new plan to fight the recession and a weak greenback boosted the appeal of commodities to investors.

Marija Stojkovic
Oil breaks through $US50 mark

Yesterday, New York's Western Texas Intermediate jumped $US3.34 to settle at $US51.46/bbl after the Federal Reserve said it plans to spend $US1 trillion buying back debt. Singapore's Tapis also edged...

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