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Heating oil cooks up markets

The rollercoaster ride for world oil prices continued this week - spiking above US$55 a barrel, falling 3% as dealers took profits on signs of slowing global growth, then charging back up to US$55 a barrel amid continuing concerns over winter heating oil stocks.

US oil hit US$55 a barrel last Friday as Federal Reserve Chairman Alan Greenspan predicted soaring costs would not crimp economic growth as they had in the 1970s. "The impact of the current surge in...

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