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SINGAPORE (AP) - Crude prices pushed near record-high levels on Monday even though the president of the Organization of Petroleum Exporting Countries said the group would initiate a second output rise to calm an overheated crude market.
Light, sweet crude for the May contract had risen 29 cents to US$57.56 a barrel on the New York Mercantile Exchange as of midday in Asia. The benchmark commodity reached a record high of US$57.70 a barrel on Friday.
Heating oil prices rose marginally to US$1.6695 a gallon (3.8 liters).
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