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NEW YORK - Oil prices rose sharply overnight, once again approaching US$100 a barrel as futures drew strength from a declining dollar and news of refinery problems.
Oil futures, which offer a hedge against a weak dollar, picked up momentum as the greenback fell to a new low against the euro.
Light, sweet crude for January delivery rose US$2.68 to US$97.32 a barrel on the New York Mercantile Exchange.
- AP
