Will the economic and energy-related news ever get good? Via Memeorandum, CNN reports:
"Oil reached $140 a barrel for the first time ever Thursday following reports that Libya may cut production and an OPEC official said crude could hit $170 a barrel this summer.
"Meanwhile, the dollar's decline against the euro added further upward price pressure....
"Light, sweet crude for August delivery ended the trading day at a record settlement of $139.64 a barrel, up $5.09, on the New York Mercantile Exchange - the third-largest single-day jump on a dollar basis in trading history. The previous settlement mark of $138.54 was set June 6, when oil prices jumped a record of $10.75 a barrel." (See the rest of the story here)
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