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Source: Reuters 3/11/2011, Location: Africa
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U.S. President Barack Obama said on Friday oil prices have been driven up by market uncertainty and stronger world growth, rather than a severe dent in supply due to fighting in Libya.
Declining to spell out what price thresholds would trigger a release from U.S. strategic oil reserves, Obama also pointed out that the reserve was intended to offset a severe disruption in supply.
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