Oil Prices Hold Near $51 a Barrel

February 22, 2005

Oil prices gave back a small portion of rapid recent gains on Wednesday as producer-group OPEC sought to assure traders it would not let prices rise too high. Even so, prices held near $51 a barrel, after rallying almost 6% on Tuesday, spurred by frigid weather in the U.S. Northeast and sharp declines in the U.S. dollar.

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Oil Prices Hold Near $51 a Barrel

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