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Crude Oil Barrel hit all time highs, but oil price isn’t rising, because…

July 10, 2013

Crude Gains on Supply Outlook

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Summary:

  • Unrest in Egypt led to oil barrel’s hitting all the high on prices, but GAS PRICES haven’t been rising much because DEMAND FOR GAS IS LOW! This is due to the weather, thus consumers are staying inside.
  • Oil jumped 2.9 percent to $106.52 a barrel after U.S. inventories tumbled for a second week.
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