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Oil futures at Oct. 2008 high; gasoline jumps 4% *PIC*

Oil futures at Oct. 2008 high; gasoline jumps 4% (by Claudia Assis)

SAN FRANCISCO (MarketWatch) -- Crude-oil futures settled at their highest in 28 months on Wednesday, as concerns about unrest in the Middle East roiled markets. Crude for April delivery (CLJ11) added $2.68, or 2.8%, to settle at $98.10 a barrel on the New York Mercantile Exchange. That was oil's highest finish since Oct. 1, 2008, when it closed at $98.53 a barrel -- on its way down from near $150 a barrel in the summer of that year. Gasoline futures rallied 4.3%.

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Oil futures at Oct. 2008 high; gasoline jumps 4% *PIC*