NEW YORK - Oil prices rose Monday as a new report showed regular gas topped $4 a gallon for the first time in two U.S. metropolitan areas.Investors brushed off news of increased production from Saudi Arabia Friday, the same day oil prices punched through another per-barrel trading record.
The world’s leading oil producer promised an additional 300,000 barrels of crude a day as President Bush wrapped up a trip to Saudi Arabia and talks with King Abdullah. That and a U.S. announcement that it would temporarily stop filling government stockpiles have done little to change overall sentiment in the market.
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