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Oil Prices Hit Over 118 Dollars For First Time

SINGAPORE (Reuters) - Oil held above $118 on Wednesday but stayed on the boil due to a weakening dollar, supply disruptions in Nigeria and fears that a refinery strike in Scotland could hit production in the North Sea.

New York's main oil futures contract, light sweet crude for delivery in May, struck a new peak at 118.05 dollars.

At the same time, London's Brent North Sea crude for June hit a historic pinnacle at 115.03 dollars a barrel.

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