Oil Prices: A Broken Record -- Literally
April 16, 2008
It’s beginning to sound like a broken record playing over and over again: oil struck a new high Wednesday – above $114 a barrel -- $114.41 to be exact. The price is more than three times the average price of 2002, when oil’s rally began, Reuters reported.
Another oft-repeated refrain: the U.S. dollar was headed toward a record low against the euro Wednesday on news of disappointing quarterly earnings announcements by major U.S. corporations.
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