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LONDON — Crude oil has closed above $100 a barrel for the first time, vaulting through a long-standing psychological barrier amid persistent concern about whether production can keep up with rising global demand.

Tuesday's price rise of more than 4 percent capped a weeklong run-up that began when President Hugo Chavez of Venezuela threatened to cut off oil exports to the United States over a legal struggle with Exxon Mobil.

Just as Chavez appeared to back off from his threats, new fears were raised by an explosion at a Texas refinery on Monday.

Oil prices retreated today in Asia.