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crude oil futures hit 103 per barrel

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    Crude oil hits record high following Ecuador pipeline break

    By Chris Oliver
    Last update: 10:48 p.m. EST Feb. 28, 2008

    HONG KONG (MarketWatch) --

    Crude oil futures hit a record high above $103 per barrel in electronic trading Friday amid reports Ecuador's state-run oil company, Petroecuador, suspended operations at a key export pipeline after a landslide damaged infrastructure.

    Crude oil for April delivery rose 1 cent to $102.60 a barrel at midday in east Asia after touching a high of $103.05 a barrel earlier. Petroecuador has declared force majeure on its oil exports and will inform those affected by the supply disruption in an official notice Friday, according to wire reports.
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