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Oil prices top $80 on weaker dollar

Associated Press / March 4, 2010

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NEW YORK - Oil prices rose above $80 a barrel for the first time in a week as the dollar weakened and refineries increased production ahead of the busy summer driving season.

Benchmark crude for April delivery yesterday climbed $1.19 to settle at $80.87 a barrel on the New York Mercantile Exchange. Prices increased early in the day after Greece disclosed a stripped-down budget to tame its massive deficit, and the euro pushed higher against the dollar.