Crude oil tops $100 a barrel

From: Oakland Tribune | Date: February 20, 2008| Author: Janis Mara | Copyright information

Crude oil closed above $100 a barrel for the first time ever Tuesday, but the record-breaking high isn't likely to translate into pain at the pump for Bay Area residents, experts said.

Worries about possible cutbacks in oil production by Organization of Petroleum Exporting Countries, or OPEC, combined with a Monday explosion at the Alon USA refinery in Big Spring, Texas, pushed oil prices above the $100 mark.

Light, sweet crude oil for March delivery settled Tuesday at $100.01 ...

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