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Oil nears record high of $104 a barrel at the NYMEX in New York

Traders conduct business in the oil options pit at the NYMEX as oil nears $104 per barrel on March 4, 2008 in New York. Oil prices continued to rise ahead of the OPEC production meeting where it is predicted that OPEC will not increase oil supply to ease record-high prices. (UPI Photo/Monika Graff)

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