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Oil tops $45; many think bottom may have been hit

Published 03/06/2009, Associated Press

Every day this week arrived with more evidence that energy usage is unlikely to bounce back soon, yet some experts believe oil prices may already have struck bottom. Light, sweet crude for April delivery rose $1.91 to settle at $45.52 today on the New York Mercantile Exchange. It was the second time crude settled above $45 in one week, which hasn’t happened since the first week of the year.

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