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Strategies & Market Trends : Aardvark Adventures

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Dec 5 9:30 AM EST

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To: ~digs who wrote (3544)	10/26/2007 6:38:38 AM
From: ~digs	Read Replies (1) of 7944

FACTBOX-Record oil price still below inflation-adjusted high Oct 26 (Reuters) - U.S. oil surged to a nominal all-time high of $92.22 a barrel on Friday, boosting the annual average price to $67.87. Adjusted for inflation, that is still below the $101.70 peak hit in April 1980, according to the International Energy Agency, a year after the Iranian revolution. The following table from the BP Statistical Review picks out key moments in oil market history. It gives average annual dollar-denominated oil prices in money of the day and the equivalent price in 2006 money. Prices are in dollars a barrel. Year, Money of the day , Inflation adjusted 1864 - Pennsylvania oil boom 8.06 104.35 1876 - Russian oil exports start 2.56 48.64 1948 - Rebuilding post World War Two 1.99 16.74 1974 - Arab oil embargo 11.58 47.54 1979 - Iranian revolution 31.61 88.13 1980 - Iran-Iraq war starts 36.83 90.46 1990 - Iraq's invasion of Kuwait 23.73 36.76 1998 - Asian economic crisis 12.72 16.22 2003 - China 2nd biggest oil consumer 38.27 40.83 *2007 Year-to-date average 67.38 67.38

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