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Saturday, June 7, 2008

$138/barrel of crude oil now, and this may reach $150 by July 4


This is according to a research note of investment banker Morgan Stanley. The price of crude oil shot up by $11.00 in a day and reached the $138.54/ barrel mark friday, June 6. The mounting tension between Israel and Iran contributed to the more than 8% meteoric surge (in one day) on the price of crude oil.
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