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The Oil Patch

HIGH — The daily price of an OPEC barrel continues to edge up slowly but seemingly inexorably. The fear of an attack on Syria appears to be the latest issueAC supporting oil prices, in the eyes of many market watchers. Down below we have the annual averages (not the usual monthly chart) for this century. And the 2013 average is down $4 from last year. But the point is that the price for three years running has been so high that even if sanctions cut revenues in half, they would still be higher than in any year of President Khatami’s Administration.

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