Oil hovers above $109 on US economy concerns (AP) – 1351th Edition

Crews clean up a pipeline break northeast of Peace River, Alberta is shown on Wednesday May 4, 2011. The pipeline, owned by Plains Midstream Canada, has leaked 28,000 barrels (nearly 4.5 million litres) of crude oil since Friday. Davis Sheremata, a spokesman for Alberta's Energy Resources Conservation Board said investigators were digging out the pipe to get their first look at the hole that caused the spill. Early indications were it was a large break, he said. (AP Photo/The Canadian Press - Ian Jackson)AP – Oil prices hovered above $109 a barrel Thursday in Asia as investors mulled whether slowing U.S. economic growth will undermine crude demand.

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