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The Oil Patch

It spent January at around $94 a barrel, then went to $98 for February, jumped to $110 in March and has now gone to $120.  That all can be seen in the daily chart above.  But the chart of monthly averages below makes it much clearer.  President Ahmadi-nejad says oil will go to $150 a barrel.  It may well do so, but we wouldn’t cite the president as a great prognosticator.

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