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Saudi Arabia has rebuffed U.S. President George W. Bush's request to immediately pump more oil to lower record prices, saying it does not see enough demand to increase production. Prices hit a new high of more than $127 a barrel Friday. full story

OIL CRISIS

Europe grapples over biofuels

Rising food prices, trade tensions and social unrest are prompting a rethink of the EU's hopes for biofuel.

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