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NEW YORK (AP) - Oil prices finished slightly higher Tuesday, after a volatile day that saw prices fall by more than $1 per barrel and then rebound to a 2007 high.
Light, sweet crude for April delivery added 7 cents to settle at $61.46 a barrel on the New York Mercantile Exchange.
During morning trading, fears about weakening oil demand from China helped prices drop as low as $60.06. By afternoon, traders instead focused on expectations of declining petroleum product inventories, and prices crossed the $62 threshold for the first time this year to climb as high as $62.25.
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