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Economy & Business - June 2005

OIL: Oil prices surge again

International oil prices surged again on 20 June. The US benchmark, West Texas Intermediate (WTI), got over US$59 a barrel. Prices did ease back the following day but the average export price of Mexican oil on 20 June was US$48.85 a barrel. Venezuelan oil hit US$45 a barrel in mid June, bringing the average for the year so far to US$39.9 a barrel. 

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