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Crude oil price up as Bush visits Saudi Arabia

Crude oil prices on Friday hit a fresh record high of almost $128 a barrel boosted by a bullish forecast from Goldman Sachs and as US President George W. Bush asked Saudi Arabia, the world's largest oil producer, for help to lower skyrocketing energy prices. Bush, on his second visit to Saudi Arabia this year, was renewing his appeal for the Organisation of the Petroleum Exporting Countries to boost its output.