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Oil Smashes $135 Per Barrel

Posted on May 22, 2008

oil_barrel.jpg

Wow, $135 per barrel! And to think that not too long ago it was at $50!!

Oil smashed past $135 a barrel for the first time Thursday, continuing its astonishing rise following unexpected drops in U.S. crude and gasoline stocks in a tight market.

In Asian morning trade, New York’s main oil futures contract, light sweet crude for July delivery, rose to a high of $135.04 a barrel before easing to $134.87.

-Forbes

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