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The Oil Patch

IT’S CLIMBING — The daily price of an OPEC barrel (above) picked up a little steam this past week and is marching closer toward the $100-a-barrel mark.  But as we always warn, daily prices are fickle.  Monthly averages (below) are more meaningful.  And they show a distinct trend upward for four straight months.  That last plot on the chart is the average for the full month of January, which is $92.83, almost 5 percent up on the December average of $88.56.

 

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