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Oil prices edge higher above $126 a barrel as the dollar weakens Price gains limited by concerns flagging fuel demand did not justify high prices U.S. economic slowdown prompting further fears about sales (AP) -- Oil rose above $126 a barrel on Friday, extending gains in the previous session after recent declines over the past two weeks. A weaker dollar is making oil futures more attractive to investors. But the price gains were limited by the concerns that flagging fuel demand did not justify the recent high prices. Light, sweet crude for September delivery rose 68 cents to $126.17 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose $1.05 to settle at $125.49 a barrel on Thursday. Oil prices fell sharply on Wednesday, tumbling $3.98 to settle at $124.44 a barrel, its lowest finish since June... [read full story]
