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Royal death and refinery woes push prices to new highs

THE death of an Arabian king and rekindled fears over United States refinery problems saw world oil prices reach two new record highs of over US$62 per barrel this week and ease only slightly before the weekend.

Royal death and refinery woes push prices to new highs

On Thursday US light sweet crude settled up US$0.52 to US$61.38 per barrel on the New York Mercantile Exchange, which was little more than a dollar shy of the US$62.50 new record struck a day earlier....

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