ERHC Energy Inc (ERHE)

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Oil nears $128 /bbl, Goldman says $141
- prices rise as Saudi Arabia nixes Bush plea

The OPEC nation rejects calls from the President to increase production as oil reaches a new record near $128 a barrel.

Goldman Sachs, predicts $141 this year
the most active investment bank in energy markets, on Friday sharply raised its forecast for oil prices in the second half of this year, citing tight supply.

The bank expects U.S. crude to average $141 a barrel in the second half of 2008, up from a previous projection of $107, it said.