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Oil hits $100 as US economy slowly improves
Posted By kurtnimmo On November 17, 2011 @ 12:13 pm In Economic Crisis | Comments Disabled
November 17, 2011
Oil prices hit $100 a barrel on Wednesday after a six-week surge that may drive gasoline prices higher in coming months and slow the fragile economic recovery.
For now, there a few reasons to explain why oil jumped 30 percent higher since early October.
One is promising. The U.S. economy continued to show signs of strength, meaning that the thirst for fuel may grow.
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