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Oil jumps $6 on US-Russia tensions

PUBLISHED ON: August 21, 2008 | Duration: 3 min, 33 sec

  
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Oil prices shot up more than $5 a barrel on Thursday, rising to the highest level in over two weeks as escalating tensions with Russia stoked fears of supply disruptions to the West. Crude's rally mimicked the wild price swings seen last month and have at least temporarily halted oil's slide back toward $100 a barrel. A weaker US dollar and worries about tightening output from OPEC countries are also supporting prices.
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