Crude oil erased earlier losses and traded near its highest price in more than 30 months on theNew York Mercantile Exchange, where the May contract was up 24 cents at $109.07 a barrel at 9:30 a.m. London time after falling as much as 60 cents to $108.23. The contract rose to $109.15 a barrel yesterday, the highest front-month price since Sept. 24, 2008.
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