NEW YORK—Near month futures contracts for Light Sweet Crude Oil on the New York Mercantile Exchange (NYMEX) settled higher than 100 per 42 gallon barrel for the first time in history this week, surpassing that milestone price on both Feb. 19 and Feb. 20. The settlement price for Light Sweet Crude for March 2008 contracts traded on the NYMEX was 100.01 per barrel on Feb. 19, and climbed even higher to a 100.74 per barrel settlement price on Feb. 20.
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