Old News, New Record: Oil To $147

Oil rose above $147/barrel this morning, but has now settled back under $145. Most of the same news that has been dogging oil during the recent spike is still at work: Middle East tensions, Nigerian unrest, and an anemic dollar.

Also, heating oil hit a new record. Winter’s a long way away, but what’s going to happen to consumer confidence when people see their first winter home heating bill?

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