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Looking for the PDF Edition? The PDF of the Print Edition can now be read by clicking the "Print Editon" button at the top of the screen. Oil predicted at $150 per barrel by July 4 Oil this morning was trading above $134 per barrel on an analyst prediction that prices could hit $150 by July 4. Prices jumped $6.43 Friday shortly after Ole Slorer of Morgan Stanley released a report saying he expected a "shortterm spike in oil prices," on the back of rising demand in Asia, Dow Jones Newswires reported. By the afternoon in Europe, light, sweet crude for July delivery was up $6.43 to $134.22 in electronic trading on the New York Mercantile Exchange. On Thursday, the contract rose $5.49 - its biggest singleday price increase in Nymex history - to settle at $127.79 a barrel. Larger one-day percentage jumps have taken place in the past. |
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