Crude pushed to an 18-month high Thursday, passing $85 a barrel. Oil prices have jumped from $69 a barrel in early February on expectations the gradual recovery in the U.S. economy will continue. For More information regarding Oil Stock and Natural Gas, make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
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Crude pushed to an 18-month high Thursday, passing $85 a barrel at one point, driven by a growing sense of optimism that the world will need more oil as it pulls out of the Great Recession. Now worries are starting to crop up that the rally for oil could lead to nasty results if prices keep climbing and choke off the economic recovery.
Tom Kloza, chief oil analyst for Oil Price Information Service, expects motorists will pay a little more than $300 million more for gas this Easter Sunday than they did on Easter Sunday last year. That's the difference between gas at a national average of $2.05 in 2009 and about $2.84 by this Easter, according to Kloza
Oil prices have jumped from $69 a barrel in early February on expectations the gradual recovery in the U.S. economy will continue. Prices also tend to move up in the spring as demand improves for fuel with the warmer weather.
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