Sunday, June 29, 2008

Oil to $170 by year's end?

OPEC Leader Khelil Says Dollar Will Drive Oil to $170

Political pressure on Iran and the depreciation of the U.S. currency have caused a surge in oil prices, Khelil said. New York- traded crude has more than doubled in a year and touched a record $142.99 a barrel yesterday on the New York Mercantile Exchange.

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