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Oil closes above $60 for first time in 2.5 years

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On the final trading day of 2017, oil prices closed above $60 for the first time in two and a half years.

CNNMoney reports the latest increase was driven by a pipeline explosion in Libya earlier in the week.

U.S. crude oil prices have not been above $60 per barrel since June 2015.

Read more from CNNMoney.

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